Case against Pervaiz Rasheed halted

LAHORE The Lahore High Court on Saturday directed a trial court not to proceed against PML-N Senator Pervaiz Rasheed and two others in a bank loan case. Justice Khalid Mehmood Khan passed this order on a plea moved by one Abida Kamran, contending that a banking court had initiated proceedings to declare her, the senator and another man as proclaimed offenders. The court, after hearing the petitioner, restrained the trial court from going ahead with the matter. Abida submitted that she along with Senator Pervaiz Rasheed and Peer Shaukat Hussain had decided to establish a factory. For this purpose, she informed the court, they had borrowed Rs7.494 million from Agricultural Development Bank for three years (1987 to 1990). However heavy floods hit the area where the factory was to be built and it started with a delay of nine months, she stated in her statement. She further told the court that the factory ran for some years, but one day its Chief Executive Waseem Ahmad closed it down without informing the directors, including the petitioner. Later on, the costly machinery of the factory was stolen and an FIR was registered, the court learned. The woman also told the judge that every development was in the knowledge of the bank. Even then it filed a loan recovery suit. The suit was later decreed. The auctioneers made their best efforts to sell out the factory, but no one came to buy it, she further informed the honourable judge. She stated: A new policy was introduced, and the bank again directed us to submit double amount within three days.

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