Thursday, 27 November 2014

No outstanding loans against Ittefaq Foundries: NBP

Ittefaq Foundries: LHC verdict set asideThe National Bank of Pakistan (NBP) has stated that Ittefaq Foundries had paid back their all banks loans, including that of the NBP, and there was nothing outstanding against them. "Our books show no outstanding against the said group, companies and guarantors, and the reference may kindly be withdrawn," said the Executive Vice President of the bank in a letter addressed to the National Accountability Bureau (NAB).

The NBP in its letter further stated that all petitioner banks, including the NBP, have received full and entire amount of their claims, and that there is nothing outstanding. The subject matter of Reference No 11 of 2001 pending in the Accountability Court, Rawalpindi, was filed on the premise of default, the letter mentioned.
Copyright Associated Press of Pakistan, 2014

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