ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has received orders from an accountability court to freeze shares of Hassan and Hussain — sons of ousted prime minister Nawaz Sharif — in 10 companies.

The order passed by Judge Muhammad Bashir states that Hassan and Hussain Nawaz had absconded and could not be found.

The court order, issued under the case titled ‘State versus Mian Muhammad Nawaz Sharif and two others’, was received through NAB’s Rawalpindi/Islamabad branch. The details of the shareholdings of the two brothers have also been provided. The court order states that the process to declare the brothers ‘proclaimed offenders’ has been initiated as they have not received the arrest warrants sent to Shamim Farms, Jati Umrah, Raiwind Road Lahore.

They have been directed to report to the court within 30 days. The period ends on Nov 30.

The court directed the SECP to attach 102,100 ordinary shares owned by Hassan Nawaz in Muhammad Buksh Textile Mills Limited and 44,100 ordinary shares in Hamza Spinning Mills Limited.

The court order states that Hussain Nawaz has shareholdings in 10 companies: Muhammad Buksh Textile Mills Ltd (482,100 ordinary shares), Ittefaq Brothers (Pvt) Ltd (4,416 ordinary shares), Brothers Steel Mills Ltd (500 ordinary shares), Hudabiya Paper Mills (896,600 ordinary shares), Hudabiya Engineering Pvt Ltd (24,540 ordinary shares), Ittefaq Textile Mills Ltd (6,000 ordinary shares), Hamza Spinning Mills ltd (163,100 ordinary shares), Brothers Textile Mills Ltd (1,855 ordinary shares), Ramazan Buksh Textile Mills Ltd (225,000 ordinary shares) and Khalid Siraj Industries (Pvt) Ltd (1,500 ordinary shares).

The court directed NAB to “attach the said shares of the companies stated above and to hold the same under attachment pending the further order of this court”. NAB was directed to report back to the accountability court.

Published in Dawn, November 4th, 2017