High Court stays ZTBL loan recovery case

Senator Pervez Rashid among borrowers accused of default.

LAHORE:

The Lahore High Court on Saturday stayed the proceeding of a banking court case seeking declaration of PML-N Senator Pervez Rasheed and five others as proclaimed offenders in a loan recovery suit filed by Zarai Taraqiati Bank Limited (ZTBL).

Petitioner Abida Kamran, one of the defendants in the ZTBL plea, submitted in her petition that a factory set up with a Rs7.84 million loan in Burj Attari had been destroyed in a flood and its machinery stolen later. She said the bank was informed about the loss but it initiated recovery initiated litigation ‘with malafide intention’.

She further said that three of the six people who had borrowed the money were dead. She requested Justice Muhammad Khalid Mehmood to issue directives to stay the banking court proceeding.

The banking court adjourned hearing of the recovery suit till November 24 after Kamran’s counsel produced the stay orders in the court.

At a previous hearing, Judge Muhammad Amjad Pervaiz had issued orders for affixation of proclamation notices at the residences of the six defaulters as well as the court premises and the parliament house.

The judge had also ordered that the orders be advertised through print and electronic media and directed the accused to appear before the court on October 22.

The recovery plea filed by the ZTBL had nominated Senator Pervaiz Rasheed, Pir Shaukat Hussain Shah, Abida Khanum, Shabnum Arshad, Tehmina Tariq, Shehla Rohail and Humaira Talib as respondents.

Published in The Express Tribune, October 23^rd, 2011.