LAHORE: A ‘referee judge’ of the Lahore High Court on Monday directed the National Accountability Bureau (NAB) to submit reports about basic loans along with mark-up paid by Ittefaq Foundry.

Justice Sardar Shamim Khan was hearing an appeal of the Sharif family challenging reopening of Ittefaq Foundry reference by NAB.

Advocate Ashtar Ausaf, the family’s counsel, told the judge the foundry had cleared all liabilities of banks along with mark-up. He asked the judge to send the case to a trial court (accountability court) so that the application could be withdrawn.

Justice Khan adjourned hearing till Dec 11 and directed NAB to submit attested reports of the bank’s loans paid by the foundry.

NAB had reopened Hudebiya Papers Mills, Jati Umra land purchase and Ittefaq Foundry references against the Sharif family. Appeal against reopening of two first references was already allowed by the referee judge.

BANK: Justice Shehzada Mazhar of the Lahore High Court disposed of 18-year-old petitions filed by the National Bank of Pakistan for the recovery of loans from Ittefaq Foundry.

An executive vice president of the bank told the judge on Monday the foundry had cleared all loans.

He also submitted a written report. In light of the bank statements, the judge disposed of the petitions.

Published in Dawn December 9th , 2014