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05-18-2016, 04:54 AM
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NAB fails to arrest former NBP president*as SHC dismisses bail
KARACHI: The Sindh High Court on Tuesday dismissed the bail application filed by former president of the National Bank of Pakistan, Syed Ali Raza, in misappropriation of Rs2 billion NBP’s worker welfare funds case.
The NAB authorities failed to arrest the accused from the court. The NBP’s ex-president and 16 other officials were being tried before the anti-corruption court with regard to embezzlement and misappropriation of Rs2 billion workers welfare funds. The case was registered following direction of the Supreme Court alleging that from year 2003 to 2008 the top hierarchy and senior management of the NBP in collusion with each other by abusing their official position as public servants manipulated the grant of cash awards and achievement awards and committed breach of trust in respect of bank funds, staff welfare funds to the tune of Rs2 billion and caused wrongful loss to the bank and pecuniary wrongful gain to themselves. The applicant’s counsel, Nafees Siddiqui, submitted that the applicant had **t been a beneficiary of the scam, and he has **t been assigned any role in the FIR, and, therefore, the case of embezzlement of funds was **t made out and requested the court to confirm the bail of the applicant. The complainant’s counsel, Hummal Zubedi, submitted that the ex-president of NBP was also a beneficiary of the achievement award scheme, and counsel for the bank had admitted in the Supreme Court that the president of the bank had obtained Rs20 million as achievement award. He submitted that the Supreme Court had ordered return of the misappropriated amount to the bank, but the order was still **t complied with and requested the court to dismiss the application. SHC’s single bench, headed by Justice Mohammad Iqbal Kalhoro, after hearing the arguments of the counsel dismissed the bail application. أكثر... ??????? ??????: NAB fails to arrest former NBP president*as SHC dismisses bail || ??????: ahlam1399 || ??????: اسم منتداك
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