Bank seeks recovery from PTI senator

A recovery suit was filed in the Lahore High Court (LHC) against Pakistan Tehreek-e-Insaf’s (PTI) Deputy Chairman Senate Mirza Muhammad Afridi seeking recovery of over Rs520 million loans which he along with others had obtained for business.

Petitioner Bank Alfalah filed the suit and made respondents to PTI’s deputy senator Mirza Afridi and his brothers including their company Reshamatex Limited owned by them.

The petitioner contended in its petition that the said respondents obtained a loan over Rs520 million, for business purposes, in the name of Reshamatex Limited on personal guarantee as well as adopting all due process.

The respondents did not obey the contractual obligations following which the bank first issued notices, to them and then declared them the defaulters.

After that, the petitioner bank approached the LHC and filed the suit against aforesaid respondents seeking recovery of over Rs520 million which they had obtained in the name of the business.

The petitioner, in its petition, requested the court to pass directions to concerned quarters to obey the contractual obligations and return the amount as per the agreement.

The petitioner also requested the court that the properties mortgaged in favour of the bank also be sold to recover the amount. It was further prayed that the personal properties of PTI’s Senate Deputy Chairman Afreedi his brothers Haroon Afreedi, Shahnawaz, Sajid Afreedi and Haji Koch Muhammad (father of aforesaid respondents).

Published in The Express Tribune, October 31^st, 2021.