Corruption case: IHC rejects NBP president’s plea for acquittal

Saeed Ahmed is co-accused in a NAB reference wherein Ishaq Dar is principal accused

ISLAMABAD: The Islamabad High Court on Monday dismissed a petition from National Bank of Pakistan (NBP) President Saeed Ahmed requesting the court to quash, to his extent, a National Accountability Bureau (NAB) corruption reference in which he is a co-accused with Senator Ishaq Dar.

IHC's division bench comprising Justice Aamer Farooq and Justice Mohsin Akhtar Kayani dismissed the petition after hearing arguments in the case and keeping the verdict reserved over maintainability for a few hours.

The petitioner, through his counsel Hashmat Habib, argued before the court that a supplementary corruption reference was filed against Dar and three others wherein the petitioner has also been arraigned as an accused. Dar, the former finance minister, has been declared a proclaimed offender.



The NBP president filed the petition seeking acquittal under section 265-D (when charge is to be framed) of the Cr PC. In the petition, the counsel said that NAB had made a novel assertion and imaginary inclusion of applicant in the supplementary reference against Dar.

In his arguments, Habib said the reference against Ahmed was filed on the basis of mere assumption which, as per understanding of the accountability bureau, amounted to aiding and abetting Dar in amassing assets beyond his known sources of income.

On March 20, an accountability court had dismissed Ahmed's petition requesting the court to ‘reject’ the NAB reference to his extent and “frame charges only when there are grounds” to proceed for trial. After dismissing the application, Accountability Court Judge Muhammad Bashir adjourned the hearing till March 27.

The NAB reference revealed that Ahmed was one of the directors of Hajveri Modaraba Management Company and 7,000 shares in Hajveri Holding (Pvt) Ltd were also transferred in his favour from the wife of Dar, the principal accused.



The reference stated that seven bank accounts were opened in Ahmed’s name which, as per investigation conducted so far, were used for the benefit of Dar and his companies.

NAB alleged that Ahmed had intentionally allowed Dar to open, operate and use bank accounts in his name to protect his illegal money and penal liability by providing cover to his criminal act whereby he aided, assisted and abetted the principal accused in the commission of offences.

The accountability court would resume hearing of the supplementary reference today (Tuesday).