NAB arrests two for Rs 174m loan default


KARACHI – The authorities of National Accountability Bureau (NAB) Sindh, on Friday arrested two directors of private industry on allegations of willful loan default of Rs 174 million availed from National Bank of Pakistan (NBP). According to an announcement of NAB , accused Anwar Ahmed Rajwani and Salman Karim Rajwani were engaged in the business of garment manufacturing as ARK Garments.
The Karachi based industry availed financial facility of Rs 174 million from NBP in 1985 and then defaulted. A reference number 14/2010 was filed in the Accountability Court, Karachi, and non-bailable warrants were issued by the court and consequently they were arrested. The accused will be produced before the Accountability Court, Karachi, for remand on Saturday, the announcement added.