NICL scam: Niazi handed over to FIA Karachi team
Hearing of another case adjourned till January 5.
LAHORE:
A court handed over on Thursday former chairman of National Insurance Company (NICL) Ayaz Niazi to an FIA team from Karachi on a three-day remand.
The two-member FIA Karachi team reached Lahore and requested the court to hand over the detainee on a transit remand.
The FIA Karachi team contended that they needed to interrogate the accused about the purchase of commercial space in Dubai for over Rs1 billion. The case was registered in the FIA Corporate Crime Circle’s police station in Karachi.
The FIA Lahore team and the accused’s counsel attended the court proceedings.
Also on Thursday, a trial court adjourned the hearing of another NICL scam case registered in Lahore till January 5 and summoned the accused, FIA and other relevant NICL officials and the Dubai Islamic Bank.
The NICL management requested the court to transfer the already recovered Rs1.54 billion out of Rs1.68 billion from the Warraich family. The remainder of the amount would be recovered till December 31 this year, officials said.
The court was also informed that two post-dated cheques of Rs10 million and Rs46. 8, 63 million had been received from the accused, which would be encashed on December 24 and December 31, respectively.
The court said that a decision on the transfer of the recovered money to the NICL would be announced on January 5.
Meanwhile, Rana Asadullah, the attorney of chairman Transparency International (TI) Pakistan Adil Gilani, appeared before the FIA officials and assured them that his client would fully cooperate with investigators.
Gilani’s counsel assured the officials that Gilani will join the investigation whenever required. FIA Punjab Director Zafar Ahmad Queshi told The Express Tribune that he and other investigators had examined Gilani’s answers and found some ambiguities, so he would be asked to answer a second set of questions.
He claimed that 100 per cent recovery would be made till December 31 in both land purchase cases registered in Lahore, involving an amount of Rs2.75 billion.
Published in The Express Tribune, December 24th, 2010.
A court handed over on Thursday former chairman of National Insurance Company (NICL) Ayaz Niazi to an FIA team from Karachi on a three-day remand.
The two-member FIA Karachi team reached Lahore and requested the court to hand over the detainee on a transit remand.
The FIA Karachi team contended that they needed to interrogate the accused about the purchase of commercial space in Dubai for over Rs1 billion. The case was registered in the FIA Corporate Crime Circle’s police station in Karachi.
The FIA Lahore team and the accused’s counsel attended the court proceedings.
Also on Thursday, a trial court adjourned the hearing of another NICL scam case registered in Lahore till January 5 and summoned the accused, FIA and other relevant NICL officials and the Dubai Islamic Bank.
The NICL management requested the court to transfer the already recovered Rs1.54 billion out of Rs1.68 billion from the Warraich family. The remainder of the amount would be recovered till December 31 this year, officials said.
The court was also informed that two post-dated cheques of Rs10 million and Rs46. 8, 63 million had been received from the accused, which would be encashed on December 24 and December 31, respectively.
The court said that a decision on the transfer of the recovered money to the NICL would be announced on January 5.
Meanwhile, Rana Asadullah, the attorney of chairman Transparency International (TI) Pakistan Adil Gilani, appeared before the FIA officials and assured them that his client would fully cooperate with investigators.
Gilani’s counsel assured the officials that Gilani will join the investigation whenever required. FIA Punjab Director Zafar Ahmad Queshi told The Express Tribune that he and other investigators had examined Gilani’s answers and found some ambiguities, so he would be asked to answer a second set of questions.
He claimed that 100 per cent recovery would be made till December 31 in both land purchase cases registered in Lahore, involving an amount of Rs2.75 billion.
Published in The Express Tribune, December 24th, 2010.