Omni group agrees to pay Rs12b

Published: December 5, 2018
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According to the prosecutor, Omni group had allegedly misplaced sugar worth Rs12 billion.

PHOTO: FILE

According to the prosecutor, Omni group had allegedly misplaced sugar worth Rs12 billion. PHOTO: FILE

KARACHI: A banking court on Tuesday adjourned the hearing of cases against the Omni group, regarding misplacing Rs12 billion worth of sugar, till December 24. The lawyer for Sindh Bank, Khawaja Naveed, appeared before the court and said that Omni group was working out a settlement with the bank, a report of which would be submitted today (Wednesday) at the Supreme Court. According to the prosecutor, Omni group had allegedly misplaced sugar worth Rs12 billion and failed to inform private banks. Omni group has agreed to pay Rs12b, said Naveed.  

Published in The Express Tribune, December 5th, 2018.

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