NAB arrests five al Abid Silk Mills’ directors

KARACHI:

The National Accountability Bureau (NAB) Karachi on Friday arrested five directors of al-Abid Silk Mills accused in over Rs347 million bank loan default case.

The accused – Azeem Ahmed, Reena Azeem, Isra Amir, Adia Naseem and Sadaf Nadeem – were arrested in a case pertain to willful default of JS Bank loan amounting to Rs347.267 million, a statement issued by the top accountability bureau said.

In 2013, they had borrowed twice from the bank which was approximately Rs300 million after mortgaging a piece of land.

The State Bank of Pakistan had earlier referred the case to NAB. The accused found involved in wilful default of the loan facility during initial inquiry, the communiqué further said.

Published in The Express Tribune, September 12^th, 2015.