The National Accountability Bureau (NAB) Sunday arrested two key accused Mehr Ahmad Shoaib ur Rehman Lakk and Mehr Zia ur Rehman Lakk, from Lakk Developers, for willfully defaulting on a Rs 263.77 million loan for a cam.
The accused persons availed the finance facility from the Bank of Punjab (BOP) and thereafter did not fulfill their obligations and defaulted. A reference was forwarded to the National Accountability Bureau (NAB) by the Governor State Bank of Pakistan (SBP) to initiate an inquiry against the insolvents.
During the course of inquiry, the evidence collected revealed that the accused persons Mehr Ahmad Shoaib ur Rehman Lakk and Mehr Zia ur Rehman Lakk, Director/Mortgagor/Guarantor of M/S Lakk Developers in active aid, abetment and assistance of others committed the offence of willfully defaulting on a loan, which is punishable under the National Accountability Ordinance (NAO) 1999.
The accused persons were produced before an accountability court. The accountability court granted 14 days physical remand of the accused persons into NAB custody for further inquiry.
