NAB is investigating Haris Steel Mill’s owner Sheikh Afzal, his son Haris, Afzal’s brothers Seth Yaqoob, Seth Munir and Seth Nisar on the orders of the apex court for not repaying a loan obtained from the BoP.
The suspects allegedly obtained a significant amount in loan from the BoP and made investments and purchased properties within the country and abroad.
The apex court bench – headed by Chief Justice Iftikhar Muhammad Chaudhry and comprising Justice Jawwad S Khawaja and Justice Khilji Arif Hussain – resumed the case’s hearing on Monday.
During the case proceedings, Afzal told the court through his counsel that half of the borrowed amount had already been paid off to NAB under a plea bargain offer.
However, his counsel complained that some of his client’s property in Dubai was sold for Rs1.5 billion by the bureau – on half its market value – and pleaded that the court should order NAB to investigate the matter.
Responding to the complaint, the chief justice remarked that assets cannot be sold without the owner’s consent and subsequently directed NAB to submit details in this regard by October 25.
Another member of the bench, Justice Khawaja stated that the property was secretly sold in Dubai. The counsel denied this claim and said the court can investigate the matter.
Criticising NAB’s performance, Justice Khawaja said how can one expect NAB to investigate matters abroad when it has failed to carry out investigations within the country.
The hearing was adjourned till October 25.
Published in The Express Tribune, October 23rd, 2012.
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