NICL land scam: Officials of seven banks summoned

FIA files petition for cancelling bail of Maj (retd) Habibullah Warraich.

LAHORE: A special court has summoned officials of seven bank officers who had de-frozen accounts of two firms – At-Tahur and Agro Tractors – owned by Chaudhry Moonis Elahi on the request of the Federal Investigation Agency (FIA), an accused in the multi-billion-rupee National Insurance Company Limited (NICL) land scam.

The special judge (central) ordered Maj (retd) Habibullah Warraich, his wife and two daughters and Akram Warraich to appear before the court on September 17.

Meanwhile, the federal agency also filed two separate petitions for cancelling the bails of former state minister of defence production Major (retd) Habibullah Warraich and the director of the Privilege Farms (Pvt) Limited, Akram Warraich, for violating an undertaking  for depositing their liability amounting to Rs420 million, and transferring the land in question, measuring 803 kanals and 19 marlas.

Qureshi had requested the court to summon the officials of seven banks who played a vital role in de-freezing the accounts of the two companies reportedly owned by Chaudhry Moonis Elahi. An amount of Rs12 million by the holders of these accounts was reported to have been withdrawn, sources familiar with the matter said.

A meeting has been called and officials, including the deputy director FIA, corporate crime circle, Syed Javed Hussain Shah, deputy director, commercial banking circle, Basharat Mehmood Shahzad have been asked to attend the meeting with relevant record, sources said.

Published in The Express Tribune, September 13^th,  2011.