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July 20, 2019

Auction of Ayesha Ahad’s two properties ordered

Lahore

July 20, 2019

LAHORE : A banking court Friday ordered auction of two properties of Ayesha Ahad Malik, a self-proclaimed wife of leader of opposition in Punjab Assembly Hamza Shahbaz, to recover a defaulted loan of a private bank.

The court issued the orders on a petition moved by the bank. The bank’s counsel stated before the court that Ayesha Ahad had obtained a loan in the name of her company AZC Developers and got her two properties mortgaged.

He said the defendant defaulted on the loan repayments in 2012 and the court had issued a decree of Rs20.5 million against her. After the decree, she paid around Rs10 million to the bank, he added.

The counsel asked the court to order auction of the mortgaged properties of miss Malik for the recovery of remaining amount of the defaulted loan. During the Friday’s proceedings, an auctioneer appointed by the court submitted a plan for the auction of the properties, including two shops in Ahad Tower, Gulberg and a three-kanal plot in Cantonment. The auction will be held on August 26 and 27.

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