LAHORE: The Lahore High Court (LHC) has ordered an auction of 759 kanals of mortgaged properties belong to Brother Sugar Mills, owned by allegedly close relatives of Prime Minister Shehbaz Sharif.
The court scheduled the auction dates for nine properties on April 25, May 2, May 9, and May 16.
A private bank had filed a recovery suit against the sugar mills, which was declared a defaulter in 2016.
Mian Aslam Bashir, Umar Idrees, the first cousins of the prime minister, and others had provided guarantees for the loan.
The auction is being conducted to recover rupees 208.378 million from the defaulters.
The mortgaged properties including farms houses situated in Kasur and Lahore.
Earlier, the bank’s counsel told the court that the proposed proclamation of sale has already been submitted and the right of the defendants to file objections has also been struck off since December 2024.
He said the defendants have not been appearing before the LHC for quite some time.
The court approved the proclamation of sale filed by the court auctioneers.
Copyright Business Recorder, 2025
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