Rs740 million
LAHORE: The Lahore High Court (LHC) on Monday granted more time for arguments in a plea of Bank of Punjab (BoP) urging the court to issue directives to Sharif family to pay back loan of Rs740 million from Al-Arabia Sugar Mills of Sharif family. Justice Jawad Hassan adjudicated the matter against the Sharif family’s Al-Arabia Sugar Mills for allegedly defaulting on a bank loan. During the hearing, the counsel for petitioner sought time to prepare his arguments on the maintainability of the petition. Granting his request, the court adjourned the hearing. The petitioner stated that the sugar mill had taken a loan of Rs740 million. The mill failed to pay back the loan within the stipulated time despite being issued repeated notices for the purpose, it said. The bank pleaded with the court to order the Al-Arabia Sugar Mills to pay back the loan. TLTP
