Court adjourns hearing till SC’s ruling
Omni Group’s lawyer argued that the agreement to pay Rs12b to banks could not take place
Omni Group Chairman Anwar Majeed. PHOTO: EXPRESS
KARACHI:
A banking court on Thursday adjourned the hearing of criminal complaints against seven sugar mills of the Omni Group till Supreme Court announces its verdict. Omni Group had allegedly misplaced sugar worth Rs12 billion and failed to inform banks.
CJP asks NBP to file a case against Omni Group
Namar Majeed, Manail Majeed, Abdul Ghani Majeed and other accused in the case appeared before the court. Directors of Omni Group also appeared before the court. Jail officials submitted a medical certificate of Omni Group Chairman Anwar Majeed, who is undergoing treatment at a hospital. Dr Tahir Sagheer, who issued Anwar’s medical certificate, also appeared before the court.
Omni Group’s lawyer argued that the agreement reached at the last hearing, wherein Omni Group had agreed to pay Rs12b to the banks, could not materialise. He argued that while other banks were ready to reach an agreement, National Bank insists on collecting the money upfront.
Omni group agrees to pay Rs12b
A report related to Saima Majeed’s travel abroad, also an accused in the case, was presented before the court.
The court remarked that depending on SC’s ruling it will be judged if the complaints could be taken back or not.
Published In The Express Tribune, December 7th, 2018.
A banking court on Thursday adjourned the hearing of criminal complaints against seven sugar mills of the Omni Group till Supreme Court announces its verdict. Omni Group had allegedly misplaced sugar worth Rs12 billion and failed to inform banks.
CJP asks NBP to file a case against Omni Group
Namar Majeed, Manail Majeed, Abdul Ghani Majeed and other accused in the case appeared before the court. Directors of Omni Group also appeared before the court. Jail officials submitted a medical certificate of Omni Group Chairman Anwar Majeed, who is undergoing treatment at a hospital. Dr Tahir Sagheer, who issued Anwar’s medical certificate, also appeared before the court.
Omni Group’s lawyer argued that the agreement reached at the last hearing, wherein Omni Group had agreed to pay Rs12b to the banks, could not materialise. He argued that while other banks were ready to reach an agreement, National Bank insists on collecting the money upfront.
Omni group agrees to pay Rs12b
A report related to Saima Majeed’s travel abroad, also an accused in the case, was presented before the court.
The court remarked that depending on SC’s ruling it will be judged if the complaints could be taken back or not.
Published In The Express Tribune, December 7th, 2018.