A three-judge bench, headed by Justice Gulzar Ahmed, sought evidence of the money trail involving the amount, which NAB alleges was misappropriated.
The two officers, former AIG of logistics Tanveer Ahmed and former AIG of finance Fida Hussain, were accused of embezzling Rs50 million worth of funds released to pay fuel charges and make special security arrangements for Muharram.
The former officers had approached the apex court after the Sindh High Court (SHC) had revoked the interim pre-arrest bail granted to them and also rejected their applications to accept a plea bargain entered with NAB.
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Hussain had expressed his willingness to voluntarily return Rs20 million to NAB. On Wednesday, the SC bench members inquired where the money had gone.
A bench member, Justice Maqbool Baqar, observed that whole issue revolved around the money trail.
The bench members remarked they will not be satisfied until the evidence of the whole money trail was produced before the court. Therefore, they dismissed bail applications of both officers.
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