MCB sell-off case: SC refers NAB appeal to LHC

The Supreme Court directed the Lahore High Court (LHC) on Monday to decide the matter of jurisdiction in an appeal filed by the National Accountability Bureau (NAB) in the case related to the privatisation of the MCB Bank.

A three-member bench, headed by Chief Justice Umar Ata Bandial, heard the NAB’s appeal. The bench rejected NAB’s plea for vacating the stay order granted by the LHC, saying that when matter of jurisdiction was decided, the stay order would automatically come to an end.

NAB Prosecutor Jahanzeb Bharwana informed the bench privatisation of the MCB Bank was done in violation of rules, adding that NAB started the inquiry on the orders of the Supreme Court. However, the LHC had stopped the graft buster from taking action against the MCB Bank.

The apex court bench said that the matter before the court pertained to the jurisdiction and not the merit. Therefore, the bench directed, the LHC should decide whether the NAB had the authority to investigate the privatisation of the MCB Bank.