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NICL scam case: Repayment cheque worth Rs42 million bounces
The case is still being heard in the court however names of the accused have been removed from the ECL.
The case is still being heard at the court however the names of the accused have been removed from the ECL. PHOTO: FILE
One of the repayment cheques worth Rs42 million, submitted to the National Insurance Company Ltd (NICL) by the accused, bounced on Monday, Express News reported.
The scam accused Habibullah Warraich, Akram Warraich and Mohsin Habib Warraich collectively owe Rs420 million to the NICL. Rather than paying in cash, they provided 10 cheques to the NICL worth Rs42 million each.
One of the cheques, which was supposed to be cashed on April 4, bounced.
Though the case is still being heard in the court, names of the accused have been removed from the Exit Control List (ECL).
Ex-chief of NICL says he is innocent
Former chairman of the NICL Ayaz Khan Niazi maintains he has done nothing wrong nor will he flee the country.
“I have full confidence in the judiciary and I will be acquitted in all cases instituted against me,” he said confidently.
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niclscam
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The persons who accpted this form of settlement is obviously guilty and should be punished.
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The bounced cheque should be presented again in the bank.
Probably, the signatories should have arranged the funds by now. This is a common practice in Pakistan despite the fact that if any cheque will be bounced, the signatory will be sent to jail.
If the signatories are already in jail, then they don’t have to worry, as it will make no difference for them whether the cheque is honoured or bounced.
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It had to happen this way. PM is totally innocent he has no clue of anything eg that Adnan was convicted and Secty Estb did it at his own
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