Adjourning the hearing of Rs 9 billion Bank of Punjab loan scam Friday, the Supreme Court issued directives to the counsel for the bank and the owner of Haris Steel Mills to settle issues relating to recovery of loans amicably by the next date of hearing.
A three-member bench led by Chief Justice Iftikhar Muhammad Chaudhry was hearing the case. Counsel for Sheikh Afzal of Haris Steel Mills Ahmed Awais, counsel for Bank of Punjab Nawaz Qausri and Deputy Prosecutor General NAB represented their clients.
During the hearing, bank's attorney requested the bench to allow the financial institution to sell the property of Sheikh Afzal for the recovery of outstanding amount, but the court turned down his request, saying that he was extending co-operation to the solvency committee and had repaid more than two billion rupees so far. The bench directed Nawaz Qausri to settle the matter with counsel of Sheikh Afzal mutually. The hearing was adjourned till April 17.
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