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Thursday, November 21, 2024

Home Pakistan Master Tiles Owner Sheikh Mahmood Iqbal’s arrest warrant issued in cheque fraud case

Master Tiles Owner Sheikh Mahmood Iqbal’s arrest warrant issued in cheque fraud case

by Web Desk (Lahore)
February 21, 2024
in Business, Pakistan

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GUJRANWALA – Master Tiles owner Sheikh Mahmood Iqbal continues to remain in headlines for all wrong reasons, and now his arrest warrants have been issued for being a defaulter of Gujranwala Electric Power Company (GEPCO).

Iqbal, a billionaire of tiles manufacturing company, has been declared absconder for skipping court proceedings multiple times.

A spokesperson of Gujranwala Electric Power Company told media that the businessman owed Rs35 crore to the power company.

He further mentioned that the tiles company owed millions and so cases were lodged over dishonouring of several cheques submitted by Sheikh Mahmood Iqbal.

GEPCO spox further said that the businessman cleared a huge chunk on the spot and gave two more cheques to the electric supply company.

Last year in October, Gujranwala police held Sheikh Mahmood, after bank cheques worth Rs123 million given by his firm for payment of outstanding electricity bills were bounced.