Maryam granted bail in sugar mills case

[ahlam1399]

LAHORE: The Lahore High Court (LHC) on Monday granted bail to central leader of Pakistan Muslim League-Nawaz (PML-N), Maryam Nawaz. in Chaudhry Sugar Mills (CSM) case.A division bench, comprising Justice Ali Baqar Najafi and Justice Sardar Ahmad Naeem, directed Maryam to furnish two surety bonds of Rs10 million each and deposit an additional amount of Rs70 million, besides surrendering her passport to avail the relief.The verdict was announced in open court, which was reserved on October 31 following conclusion of arguments by the parties in the post-arrest bail petition, filed by the PML-N leader.The National Accountability Bureau (NAB) had arrested Maryam and her cousin Yousaf Abbas on August 8. An accountability court on September 25 sent the PML-N vice president and her cousin to jail on judicial remand by rejecting NAB’s request for extension in their physical remand which they underwent for 48 days.The court, in its 22-page detailed judgment, held that the NAB could investigate the matter while rejecting defence counsel’s stance that it was a case of double jeopardy. It also dismissed another argument of the defence counsel that the petitioner could not be held responsible for transactions as she was a minor at the time of establishment of the mills. “This argument cannot be appreciated at this stage for the simple reason that allegations against her pertain to year 2008 and onward when she was not only major but also shareholder with increased shareholding in M/s CSM,” it added.However, the bench observed that prima facie it appeared that the petitioner did not aid in acquiring assets disproportionate to the known sources as no connection of petitioner had been established with the foreign nationals in order to persuade them to invest in the CSM, which could attract provisions of the NAB ordinance.It observed that further investigation was required into charges of money-laundering, as it was mandatory to establish some nexus with the crime proceeds. The question of making layers and becoming a beneficial owner also required further probe since it was not the prosecution case that investments in the real estate in the UAE was out of some crime proceeds in the form of ill-gotten money, it added.While addressing the prosecution’s apprehensions regarding the petitioner’s fleeing the country, the bench noted that petitioner had withdrawn Rs 70 million; therefore, a conditional order would be passed to satisfy its judicial conscience.http://feeds.feedburner.com/~r/com/cwEr/~4/qK0MhYT2prs

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