LAHORE: A division bench of the Lahore High Court (LHC) has barred the National Accountability Bureau (NAB) from proceedings against two businessmen of Lahore, Ahmed Hamayun and Ahsan Hamayun, for being defaulters of a bank loan.
A division bench headed by Justice Mahmood Maqbool Bajwa restrained the NAB authorities from taking coercive measures against the petitioners and referred the petition to a full bench to decide “point” of willful default. Over 100 petitions were already pending on the “point” of willful loan default. The full bench is yet to be constituted.
The court referred the case to Chief Justice for formation of a larger bench to settle issue of willful default.
The petitioners pleaded through their counsel that they borrowed loan from the Bank of Punjab to invest in the stock market.
However, they returned the loan along with the mark-up. But now NAB has started investigations against them on charges of loan default and the State Bank had also taken up the matter.
The petitioners pointed out that a suit was pending before the LHC with regard to the loan dispute.
They prayed to the court to stop NAB from taking any action against them till decision of the suit which is already pending before the court.
