Banking court issues warrants for Nawaz’ cousins

LAHORE: A banking court on Saturday issued bailable arrest warrants for the cousins of former prime minister Nawaz Sharif for not complying with the court orders in cases against them for allegedly defaulting on bank loans.

Banking Court Judge Munir Joya issued arrest warrants for Tariq Shafi, Javed Shafi and others.

The banking court is hearing a case against the accused after different banks moved courts as they allegedly defaulted on loans. The court had summoned them many times but they didn’t turn up after which the court issued their non-bailable arrest warrants.

It is pertinent to mention here that a day before, another Banking Court had ordered to auction a property of Ali Imran Yousaf, son-in-law of former chief minister Shahbaz Sharif, after he defaulted on a bank loan. It has been learnt that Ali Imran Yousaf had obtained a loan of more than 20 million from the United Bank Limited. However, he didn’t pay a single installment of the loan. After which the bank moved the court. The court issued orders to auction two-Kanal property of Ali Imran Yousaf located in DHA. The auction of the property will take place on March 27 and the starting auction price of the property is Rs 48 million.