LAHORE: NAB has filed application with Accountability Court paying it not to take action against the minister for Kashmir affairs Faisal Saleh Hayat in loan default case because of his entering into arbitration with state bank.
The application was submitted during the course of hearing of loan default case against the minister on Saturday.
The court will pronounce decision in this regard in next hearing on April 12.
NAB deputy prosecutor informed the court during the hearing that matter of loan default pertaining to Faisal Saleh Hayat has been settled with State Bank through arbitration process. Therefore, there is no need to take further action in the case owing to arbitration.
The court directed the NAB to submit formal application in this respect.
Advancing his arguments on the occasion Faisal's counsel told the court that matter related to his client did not fall under purview of deliberate loan default. Therefore, we approached conciliation council of bank and raised our objections there, he pleaded. The conciliation council decided in our favour accepting our objections as correct. There fore there is no justification that reference stays more.
The court reserving its verdict till next hearing ordered Faisal Saleh Hayat to appear in the court. | 
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