LAHORE: The Lahore High Court on Wednesday summoned relevant investigating officer of the National Accountability Bureau (NAB) on a petition by Ramzan Sugar Mills of the Sharif family against non-registration of its shares by the Security Exchange Commission of Pakistan (SECP).
The mills administrator, through a counsel, submitted before the court that all of its assets had been frozen following references made by the NAB. He said the mills wanted to obtain loan from bank and for that purpose it requested the SECP to register its shares.
However, the counsel said the commission refused to register the shares owing to NAB references pending against the sugar mills. He asked the court to order the SECP to register shares of the mills so that it could secure loan from the bank.
Justice Ayesha A. Malik directed the investigating officer to appear before the court on May 28 along with the complete record of the case.
Published in Dawn, May 21st, 2020