LAHORE: A banking court here on Saturday issued arrest warrants of Javed Shafi, Zahid Shafi and other cousins of former Prime Minister Mian Nawaz Sharif in a suit of Summit Bank Ltd for recovery a loan of rupees seven hundred millions. The bank had filed the suit against Itifaq and Kashmir sugar mills owned by Javed Shafi and others.
The court had called the accused for framing charges against them but they failed to appear before the court and exposed themselves for arrest warrants. The Summit bank contended that the respondents obtained 700 million rupee loan in the name of Itifaq and Kashmir Sugar mills and failed to pay back the same. The bank therefore prayed to the court to issue a decree against the respondents for recover of its loan.
Copyright Business Recorder, 2020