Pakistan

Arrest Warrant Issued for Master Tiles Owner Sheikh Mahmood in Cheque Fraud Case

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Web Desk

2 years ago

GUJRANWALA: Master Tiles owner Sheikh Mahmood Iqbal, a prominent figure in the tiles manufacturing industry has recently made headlines once again, this time for his involvement in a cheque fraud case. The Gujranwala Electric Power Company (GEPCO) has issued arrest warrants against him for defaulting on payments amounting to Rs35 crore.

Iqbal, known as a billionaire in his field, has been declared an absconder for repeatedly failing to appear in court for the ongoing legal proceedings. According to a spokesperson from GEPCO, the tiles company owned by Iqbal has been facing numerous cases due to the dishonoring of several cheques issued by him.

However, in a recent turn of events, Iqbal has taken steps to address the outstanding payments. He reportedly cleared a significant portion of the dues on the spot and provided two additional cheques to settle the remaining amount owed to the electric supply company.

This incident comes on the heels of a similar situation last year in October when Gujranwala police apprehended Sheikh Mahmood Iqbal after bank cheques worth Rs123 million, issued by his firm for the payment of outstanding electricity bills, bounced.

The case involving Sheikh Mahmood Iqbal underscores the importance of financial integrity and accountability in business dealings. As legal proceedings continue, stakeholders are closely monitoring developments to ensure justice is served in this matter.

Web Desk