LAHORE-The Bank of Punjab has approached the police to get a fraud case registered against the top management of National Sugar Mills including MNA Anwar Ali Cheema of PML (Q) and his son Amir Sultan Cheema for unlawfully selling pledged-stocks of sugar of more than Rs 137 million. The sources disclosed that the National Sugar Mills had pledged about 110,000 bags of sugar as security to avail finance facility from the Bank of Punjab. The National Sugar Mills owners later sold the sugar stocks in the local market at high price and earned huge profits even without informing the Bank of Punjab, which is a criminal act punishable as a fraud case under section 420/406 PPC. The team of the Bank of Punjab visited the godowns of National Sugar Mills to check the pledged sugar stock on Wednesday last and the team members were shocked to see the empty godowns with not a single kilogram of sugar was seen, a source in the Punjab govt disclosed requesting anonymity. Highly placed sources revealed that owners of the mills Anwar Ali Cheema MNA of PML (Q) and his son Aamir Sultan Cheema had contacted the Chief Minister Punjab Mian Shahbaz Sharif to pre-empt any action against them. 'They are also ready to join PML (N) if the Sharifs hush up the issue, a source revealed. The sources disclosed that the district police Sargodha had refused to register fraud case against the owners of National Sugar Mills after Anwar Ali Cheema MNA and his son Aamir Sultan Cheema, former Provincial Minister met Captain (retd) Safdar of PML (N) to 'get relief. No wonder the local police are reluctant to take action against the Cheemas on the application lodged by the Punjab Bank officials. On Thursday, Aamir Sultan Cheema alongwith some other members of the PML (Q) forward bloc met Chief Minister Punjab Mian Shahbaz Sharif at Raiwind and showed their willingness to join PML (N). The sources close to the CM Secretariat claimed that the Chief Minister Punjab had refused to help Cheema family in this matter, asking them to pay Rs 137 million to the bank immediately to stop the bank from getting FIR registered against them. However, another source disclosed that the Chief Minister Punjab Mian Shahbaz Sharif had assured Amir Sultan Cheema that the matter would be settled amicably, no matter how it was being settled. 'The police has been directed not to register FIR against the Cheema family till 'further orders as efforts are afoot to settle the issue. 'Efforts are underway at the highest level and I think that the issue has been resolved, said Dr Usman Anwar District Police Officer (DPO) Sargodha, when contacted. However, he admitted that the Bank of Punjab had submitted an application for registration of case against the owners of National Sugar Mills at Laksian police station of district Sargodha. It is worth mentioning here that the State Bank of Pakistan (SBP) had directed all the banks that all existing loans/advances against the security of sugar stock (disbursed before the crushing period of 2008) should be fully adjusted latest by March 31st, 2009. The State Bank of Pakistan (SBP) in order to curb the sugar mills monopoly had restricted financing against the security of sugar stock a couple of months ago. The SBP had directed all the Banks to disallow fresh financing or renewal against hypothecation of sugar stocks. It is in the light of these directives from the State Bank that the Punjab Bank officials inspected the pledged stocks of Sugar of National Sugar Mills, only to find that they are missing. The circular said, 'Any renewal / fresh disbursement of such loans / advances shall be made only after a clean up period of at least one month after the adjustment of loans. More interestingly, the National Sugar Mills had availed the financing facility from the BoP a couple of years ago.