NICL scandal: Accused refuses to pay liable amount

Warraich claims Rs420 million amount ‘unjustified’.

Asad Kharal June 07, 2012


The main accused in the National Insurance Company Limited (NICL) scandal have categorically refused to deposit the Rs420 million liable amount owed to NICL.

Talking to The Express Tribune, Mohsin Habib Warraich, the principal accused in the case and son of former state minister for defence production Major (retd) Habibullah Warraich, claimed the Rs420 million amount was “unjustified.” He maintained that an earlier valuation assessment report under the case’s former chief investigator Federal Investigation Agency (FIA) Additional Director General Zafar Qureshi had determined the amount owed to NICL as Rs80 million. He added they (the accused) had already deposited Rs80 million with the court while under protest.

Warraich said, however, that a later valuation assessment under Qureshi determined the figure as Rs420 million, which he labeled an ‘unjustified’ amount.

Mohsin Warraich’s uncle Akram Warraich, the director of Privilege Farms, had earlier presented 10 post-dated cheques, each for Rs42 million, on the former’s behalf for purpose of returning the liable amount. The first of these cheques, dated for April, however, bounced.

Regarding why they presented the cheques in the first place, Mohsin claimed they were under pressure since they sought bail at the moment.

Meanwhile, the three-member bench headed by Chief Justice Iftikhar Chaudhry will resume hearing the case on Thursday (today).

Published In The Express Tribune, June 7th, 2012.


Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ

Most Read