LAHORE: Auction for a property of the son-in-law of PML-N President Shahbaz Sharif will be held on March 27 following an order of a banking court to recover a defaulted loan.

The court had previously allowed a recovery suit by a private bank and ordered the auction of a mortgaged plot of Ali Imran Yousaf, measuring two kanals in DHA. As per a public notice for the auction, the bid will open at Rs40.8 million.

The National Accountability Bureau (NAB) has already confiscated assets of Yousaf for being an absconder in a Punjab Energy Development case.

As per the bureau, the assets include the plot in DHA, shares in Ali Trade Centre on M.M. Alam Road, Ali Proceeds Foods, Ali & Fatima Developers, Ali & Company, Madina Feeds (Pvt) Limited and Ghausul Azam Developers.

The NAB had accused Yousaf of receiving Rs131m as bribe from Ikram Naveed, the chief finance officer of Punjab Power Development Corporation. Yousaf never appeared before the accountability court despite repeated summons. Resultantly, the court declared him absconder and allowed the NAB to confiscate his assets.

Published in Dawn, February 29th, 2020