He said the suspect became the largest shareholder of the mills during 2008 to 2010 having 47 percent ownership (over 12 million shares). Meanwhile, Nawaz Sharif became the largest shareholder of the mills during 2015-16 with 46 percent ownership (over 12 million shares), he added.
The prosecutor said documents revealed that Maryam acquired the shares of the mills from three foreign nationals namely Saeed Saif Bin Jabar Al-Sweidi, Hani Ahmad Jamjoom and Sheikh Zakauddin.
However, the prosecutor said during the latest remand the accused was asked about the transfer deed through which three foreigners transferred 11.5 million ordinary shares of the mills.
He said the company secretary of the mills Ajmal Sibtain and Chief Financial Officer Shahbaz Haider were interrogated and they failed to furnish documents to justify the transfer of shares.
The prosecutor said the accused during the instant remand was confronted with the financial audit statement of the mills and was asked about the lenders of the company. He pointed out that the project of the sugar mills was Rs700 million and for which Rs400 million had been shown to be obtained from an offshore company namely M/s Chedron Jersy while remaining funds had been arranged locally.
He said tax record of both suspects Maryam and Abbas was being procured from the Federal Board of Revenue (FBR) to ascertain their financial worth.
A report filed by the prosecutor also stated that former Prime Minister Nawaz Sharif and his children Maryam, Hussain Nawaz and Hassan Nawaz obtained 4.32 million shares in the sugar mills for which they paid Rs40.32 million.
However, the available tax record indicates that they did not have sufficient sources to contribute towards paid up capital in the company. He said the sugar mills was established in 1992 when Nawaz Sharif was Prime Minister.
The prosecutor asked the court to extend the physical remand of the suspects for 15 days to procure further evidence, detection of hidden assets and recovery of crime proceeds.
The counsel of Maryam opposed the remand and argued that the matter of CSML had been investigated by the joint investigation team formed under the Panama Papers judgment of the Supreme Court. He said the NAB had been asking for the remand on same points from the day first.
He argued that all the shares of the mills were transferred by grandfather of Maryam and Abbas had managed the money transaction with UAE national Naseer Abdullah Lootah.
The counsel stated that all the documents of the case were already in the possession of the bureau and there was no need to keep the suspects in custody.
The court however inclining with the prosecutor extended the physical remand of both suspects. Earlier, scores of lawyers affiliated with PML-N chanted slogans in and outside the courtroom. During the proceedings, the judge time and again cautioned the lawyers to stay quiet.
However, the lawyers and the party workers even ignored requests of senior defence counsel Azam Nazir Tarar to maintain silence.
Senior politician Javed Hashmi, Senator Pervez Rashid and Nehal Hashmi also attended the proceedings in the crowded court. Former railways minister Khwaja Saad Rafiq and his brother Khwaja Salman Rafiq also met Maryam.
They were produced in Paragon case in another court. Outside the judicial complex, PML-N workers had minor physical skirmishes with the police. Roads leading to the complex were also blocked.