LAHORE: A banking court on Thursday ordered auction of property owned by PML-N MPA Arshad Javed Warraich to recover bank loan defaulted by him.

Presiding Judge Arshad Hussain Bhutta fixed Sept 5 for the auction of the property and appointed an auctioneer.

The judge passed the order on a loan recovery suit filed by a private bank.

The bank through its counsel contended that the defendant MPA had obtained a loan of Rs20 million and mortgaged a property in Sialkot measuring 30 kanal six marla. It said the defendant defaulted on loan and had been avoiding the legal procedure.

The bank asked the court to order the auction of the mortgaged property of the defendant so that amount of the loan could be recovered.

The judge allowed the bank’s suit and appointed Advocate Rana Abdul Mannan as a court’s auctioneer to conduct the auction

Published in Dawn, September 2nd, 2022