Aftab is the main accused in a corruption case that caused a loss of more than 22 billion rupees to the steel mills.
During today's hearing, Judge Syed Peer Ali after heard final arguments from both prosecution and defence sides on the acceptability of Aftab's bail, but rejected the request.
The accused Moin Aftab was on bail. He had moved the bail plea denying the corruption charges against him.
The prosecution submitted that during his incumbency, the Steel Mills had sustained an approximate loss of over Rs 22 billion on account of a large number of acts of criminal omission and commission.
Accused Moin Aftab was appointed chairman of Steel Mills on contarct basis in April 2008 and dismissed in August 2009 by Prime Minister Yousuf Raza Gillani after reports regarding his alleged involvement in corruption surfaced.
A case was registered against the suspect at the FIA's crime circle Police Station in Karachi in 2009 and faces cases on three counts of corruption.
In last hearing the court had reserved the judgment.
Updated from print edition
Corruption case: Ex-chairman Pakistan Steel denied bail
The Federal Anti Corrouption Court in Karachi has rejected the bail plea of former chairman of Pakistan Steel Mills, Moin Aftab.
Aftab is the main accused in a corruption case which is to do with the loss of more than Rs22 billion to the steel mills. Moin Aftab was removed from his post by Prime Minister Yusuf Raza Gillani for his alleged involvement in corruption. Moin Aftab was appointed chairman of Steel Mills on contract basis in April 2008 and was dismissed in August 2009. The former chairman is facing cases on three counts of corruption.
During today’s hearing, Judge Syed Peer Ali heard arguments on the acceptability of Aftab’s bail, but rejected the request. The court refused the plea after hearing final arguments from both prosecution and defence sides. In last hearing the court had reserved the judgment.
The prosecution submitted that during his incumbency, the Steel Mills had sustained an approximate loss of over Rs22 billion on account of a large number of acts of criminal omission and commission.
A case was registered against the suspect at the FIA’s crime circle Police Station in Karachi in 2009.
Published in The Express Tribune, August 4th, 2011.
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