LAHORE - The Lahore High Court (LHC) on Tuesday ordered auction of the office of Hussain Waqas Sugar Mills for being a bank defaulter.
The mills is owned by a cousin of former prime minister Nawaz Sharif.
An LHC bench was hearing a petition filed by Bank of Punjab. The court issued the order to auction the office of Hussain Waqas Sugar Mills on August 31.
The Lahore High Court (LHC) ordered Haseeb Waqas, the cousin of former prime minister, to auction his sugar mill over non-payment of debt he took from the Bank of Punjab (BoP).
The court ordered Waqas to put his sugar mill up for court auction and sought a report on September 12.
Auction be done on August 31
Haseeb Waqas Sugar Mills Limited is one of the three sugar mills from cotton belt districts in southern Punjab about the relocation of which, review petitions had been filed in the Supreme Court. However, the apex court had rejected the petitions seeking review of its Sept 13, 2018 order for shifting of the three sugar mills from cotton belt districts to their original sites.
Haseeb Waqas Sugar Mills and two other mills including Chaudhry Sugar Mills Limited and Ittefaq Sugar Mills are considered to be linked with the Sharif family.
On September 13, last year, a three-judge SC bench took up the review petitions against the court’s decision to uphold a Lahore High Court verdict dated 02-03-2017 for the relocation of the mills from the cotton belt area.
Also in August, 2007, the Lahore High Court (LHC) had issued a notice to Mian Mohammed Ilyas Mehraj who is the main shareholder of Haseeb Waqas Sugar Mills and cousin of the former premier in a petition filed to seek appointment of inspectors at the mills to check alleged irregularities in its financial matters.
The applicants, who then held hold 9.45 per cent of shares, had sought the court’s orders to exercise their “legal corporate rights” and manage the mills as per the law.