Ittefaq case reporting prohibited
LAHORE, January 27,2005: The Lahore High Court (LHC) on January 26 restrained the mediamen from reporting the proceedings in the matter of Ittefaq group of industries owned by former Prime Minister of Pakistan Nawaz Sharif.
Nawaz Sharif had handed over his four industrial units to the financial institutions to clear their liabilities. The court had constituted a committee for disposal of these units. The committee had finalized bid worth Rs. 2.48 billion against the four units but one of the Sharif family members Ilyas Miraj had challenged the post bidding bargaining.
The petitioner also moved a contempt of court petition against the committee, as the court had issued a stay against post-bidding bargaining.
Source: Business Recorder
Date:1/27/2005
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