Lahore High Court (LHC) on Friday directed the counsel of shareholders and the banks, to review the sales terms and conditions and also submit a complete draft of its report by October 22 about the sale of the units of Ittefaq Group of Industries.
The shareholders of the group have opposed the sales procedure, which the Sales Committee constituted under court directions by the loan recovering banks has adopted.
Earlier, the counsel of the shareholders including that of Mian Sharif's political family produced a copy of their term and conditions in the court which required that for auction, the aspirant buyers should be invited through advertisement.
All the persons participating in the auction are also required to submit a bank draft of Rs 50 million along with their offer of purchasing the units.
The court directed the counsel of shareholders and that of the loan recovering eight banks to review the sales term and conditions, trim it in accordance with each others suggestions and produce a complete draft of its report by next date of hearing.
ELECTION PETITION: The Lahore High Court (LHC) directed petitioner Muhammad Akram Khan to record his evidence before the court in his election petition against Punjab Food Minister Chaudhry Iqbal by next date of hearing.
The petitioner contended that the respondent had lied to the Election Commission by concealing the fact of his being a defaulter.
He informed the court that respondent did not pay around Rs 300,000 utility bills and sought his disqualification from being member of Parliament.
LHC CALLS COMMENTS: The LHC has called for report and para-wise comments within three-week from officials of Livestock Department in a petition filed by one Bilqees Akhtar.
The petitioner, widow of a doctor has approached the court, as she was not being paid her husband's dues after his death. It was contended that the department withheld the benevolent fund despite Provincial Ombudsman's orders.
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