NICL scam: SHC approves pre-arrest bail of Amin Qasim Dada

September 9, 2014 Off By Web Desk

KARACHI: The Sindh High Court (SHC) on Wednesday approved the pre-arrest bail for National Insurance Company Limited (NICL) former director in a case pertaining to Rs900million NICL scam. Justice Sajjad Ali Shah, who headed a division bench of SHC, gave bail to NICL former director Amin Qasim Dada subject to furnishing surety of Rs2million.

Farooq H Naik, counsel for applicant submitted that Dada, who resigned as NICL director in February 2010, moved to London for the medical treatment. During his stay in London, Federal Investigation Agency (FIA) lodged FIR No.14/2010 under section 409/420/109 of Pakistan Penal Code on complaint of FIA director general’s commerce secretary.

“It was alleged in complaint that applicant along with top management of NICL purchased a plot admeasuring 27000 square foot in Dubai in UAE at exorbitant rates which caused loss of Rs900million to national exchequer. Therefore, he committed offence, criminal mistrust and cheating.”

Counsel while denying the allegations said NICL chairman in November 2012 had got the subject plot valued by a private firm and found that the market price of flat was more or less was same at which it was purchased.

He said that later anti-corruption court judge ordered the transfer of special case made out of FIR to administrative judge of accountability court where it was marked as reference no.1 of 2014.

Counsel said that despite ailment, applicant decided to travel to Pakistan and face trial. He said that SHC bench had allowed him protective bail on August 21 which would expire on September 11.

Therefore, he requested the court to allow him pre-arrest bail so that he could surrender before trial court and face the charges.

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