The Banking Court Judge Saad Qureshi has directed counsels for Summit Bank, Sindh Bank and National Bank of Pakistan to submit detailed reasons that why their settlement with Omni Group remained unsuccessful during the hearing of 20 criminal complaints against Omni Group for sold out stock of sugar reserved as bank guarantee worth billions of rupees.
On 31 December 2019, court was hearing petitions filed by the above mentioned banks’ administration for restoration of their more than 20 criminal complaints. During the hearing, court observed that it wants to know the reasons and grounds on which settlement between banks and M/s Omni Group remained unsuccessful so that the court could decide about restoring their applications.
In more than 20 criminal complaints, Anwar Majeed, Chief Executive Officer of Omni Groups, his sons Abdul Ghani Majeed, Ali Kamal Majeed, Mustafa Zurqonan Majeed others Saima Majeed, Minhal Majeed, Nimmer Majeed and directors of their sugar mills have been nominated as accused.
Earlier, counsel for the Summit Bank, Sindh Bank and National Bank of Pakistan submitted applications for restoration of these cases and informed that on the direction of Supreme Court of Pakistan, they tried to reach settlement with the Omni Group, however, there is no progress and Omni Group is not ready to pay all due amounts, therefore, court may restore their criminal complaints.
It needs to the mentioned here that former Chief Justice Saqib Nisar had taken suo moto notice against Omni Group and directed the Federal Investigation Agency (FIA) and banks to initiate proceedings against Omni Group which sold out sugar lying at their sugar mills as bank guarantee and declared selling of the said sugar as criminal act if banks did not give any permission.
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