Ittefaq Textile Mills of Sharif family ordered to be auctioned by LHC
LAHORE – The Lahore High Court (LHC) has on Monday ordered to auction the Sharif family’s Ittefaq Textile Mills on December 15.
The LHC judge resumed hearing of the petition filed by the Muslim Commercial Bank (MCB) for the auction of the Sharif family’s Ittefaq Textile Mills.
During the proceedings, the council of the bank said that the owners and the relatives of former prime minister Nawaz Sharif had mortgaged Ittefaq Textile Mills to receive loan for business.
He said that the defaulter Mian Haroon Yousaf had also given guarantee of Mian Yousaf and others for the loan.
After hearing the arguments, the court ordered to auction the Sharif family’s Ittefaq Textile Mills on December 15.