Karachi January 22 2025: Bank Makramah has filed settlement in court for recovery of PKR 10 billion from Omni Group and its affiliated entities.
“Bank Makramah Limited has today filed a settlement application before the relevant Court, for the recovery of non-performing loans (NPLs) owed by various companies of the Omni Group and its affiliated entities” states bank in its filing to the exchange.
“The settlement pertains to the amount of approximately PKR 10 billion, which will now be recoverable under the agreed terms of the settlement” adds the notification.
Further, the TFC Holders of BML in their Extraordinary General Meeting (EOGM) held on January 21, 2025 decided to continue as TFC Holders of BML. However, the Scheme of Arrangement for restructuring of BML will continue as already approved by the shareholders of BML.
