NAB authorises inquiry against Azgard Nine, Agritech Limited

LAHORE: National Accountability Bureau (NAB), in a notice to the Pakistan Stock Exchange (PSX) informed that it has authorised an inquiry against owners and directors of Azgard Nine Limited (ANL) and Agritech Limited (AGL) on corruption charges.

The notification read, "National Accountability Bureau (NAB) has authorised an inquiry against Directors/Owners of M/s Azgard Nine Limited, Agritech Limited and others on the allegation of corruption and corrupt practices as defined in section 9(A) of National Accountability Ordinance, 1999 and Schedule thereto."

ANL operates mostly in yarn, denim and denim products while AGL manufactures and markets nitrogenous and phosphate fertilisers.

At the time of filing of this report on Wednesday 3:15 pm, ANL was trading at Rs16.84 down 5.61 per cent and AGL was trading at Rs7.58 down 10.93 per cent at the Pakistan Stock Exchange.