FAISALABAD, April 6: An industrialist was arrested on Saturday on charge of default.

A former chairman of the All Pakistan Cotton Powerlooms Association, Farrukh Hameed Bhatti, had obtained Rs6 million loan from a branch of Habib Bank in 1994 and failed to return the same.

The bank approached the banking court who passed decree against Mr Bhatti and issued warrant for his arrest. A raiding team on Saturday arrested and handed him over to area police. —Staff Correspondent