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Ayesha Ahmad Malik’s property to be auctioned

Updated July 20, 2019

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Opposition Leader in the Punjab Assembly Hamza Shahbaz and his self-claimed wife Ayesha Ahmad Malik. — File
Opposition Leader in the Punjab Assembly Hamza Shahbaz and his self-claimed wife Ayesha Ahmad Malik. — File

LAHORE: A banking court has ordered auction of two properties of Ayesha Ahmad Malik, self-claimed wife of Opposition Leader in the Punjab Assembly Hamza Shahbaz, to recover a defaulted loan of Bank Alfalah.

The court issued this order on a petition filed by the bank.

The bank’s counsel pleaded that Ms Malik had obtained a loan in the name of her company AZC Developers and she got her two properties mortgaged.

He said the defendant defaulted on the loan repayments in 2012 and the court had issued a decree of Rs20.5 million against her. After the decree, she paid around Rs10 million to the bank, he added.

The counsel asked the court to order auction of the mortgaged properties of Ms Malik for the recovery of remaining amount of the defaulted loan.

During the Friday’s proceedings, an auctioneer appointed by the court also submitted a plan for the auction of the properties, including two shops in Ahad Tower, Gulberg, and a three-kanal plot in Cantonment. The auction will be held on Aug 26 and 27.

Published in Dawn, July 20th, 2019