Non-cooperative behaviour of Sheikh Afzal: BoP submits written statement to Supreme Court

Bank of Punjab (BoP) submitted a written statement to the Supreme Court pertaining to non-cooperative behaviour of Sheikh Afzal whose accounts payable liability is estimated at Rs 9 billion in the Bank's loan scam on Monday.
Advocate General Punjab (AGP) Khawaja Haris filed the statement on behalf of BoP, expressing that Sheikh Afzal and his family members were trying not only to frustrate the entire process of the sale of properties but also to tag the issue of sale with their ascertainment of the actual amount due from the accused to the Bank.
AGP pleaded that accused were intending to divert the attention of the Salvage Committee toward the sale of those worthless properties which they had mortgaged at the time of fraudulent withdrawal of money from the Bank and manoeuvring to put on hold the sale of surrendered properties.
"It is respectfully submitted that this suggestion, on their part, if accepted, would be violative of law, as the surrendered properties by the accused in term of the Voluntary Agreement was acquired from the amount that are to be mandatory sold under NAO, 1999 and not mortgaged properties, which were never acquired, unless of course, the sale of surrendered properties does not fetch the full amount fraudulently withdrawn by them," AG Punjab further stated.
Harris contended that the accused just wanted to delay and frustrate the process of sale of the valuable properties purchased by them from the money fraudulently withdrawn from the Bank. He also mentioned that accused was intending to obtain the orders of the sale of 105 worthless properties mortgaged with the Bank at the time of obtaining the so-called "loan facility".
Khawaja Haris pleaded that the principal amount due from Haris Group was Rs 8.45 billions on August 31, 2008 as the accused was falsely claiming that a sum of Rs 3.756 billions had already been recovered and that when recovery in pipeline would be added the total recovery worked out to not more than Rs 5.42 billions.
He further contended that according to the NAB, total recovery so far from the accused was Rs 2.58 billions, while considering the recovery in pipeline, the total recoverable amount would be Rs 3. 50 billions. He pleaded the court to pass order regarding the matter after considering all the facts, which had been mentioned in the reply. The court will take up this case today (Tuesday).