ISLAMABAD: The Supreme Court told the Federal Investigation Agency (FIA) on Thursday to shift Ayaz Khan Niazi, the former chairman of the National Insurance Company Ltd (NICL), from Karachi to Lahore for interrogation.
The court also directed the FIA to expedite its efforts for the recovery of the misappropriated amount.
The orders were passed by a three-member bench, headed by Chief Justice Iftikhar Mohammad Chaudhry.
During the course of proceedings, Deputy Director FIA, Punjab, Zafar Qureshi told the court that more than Rs1 billion have been recovered in the case.
He urged the court to shift Niazi, who is allegedly the main culprit in the case and detained in Karachi, adding that a request has already been made to the Sindh chief secretary for handing him over to FIA Punjab.
Expressing dissatisfaction over FIA Karachi’s performance, the court directed the FIA director-general to recover the remaining amount as soon as possible.
The court also observed that the FIA itself was responsible for not transferring the main culprit to Lahore.
Waseem Ahmad DG FIA told the court that half of the embezzled Rs4 billion has been recovered.
The court adjourned the hearing till January 11.
Published in The Express Tribune, December 10th, 2010.