Insurance company case accused bailed

LAHORE : An accountability court on Saturday granted bail to Ayaz Niazi, main accused in a Rs420 million corruption case of National Insurance Company Limited.

Accountability Court Judge Muhammad Azam directed the accused to deposit Rs 5 million as surety bond.

Earlier, Niazi, the accused, and his counsel had failed to turn up in the court for cross examination in the case, after which, the court had issued arrest warrants for him.

Police officials arrested Ayaz Niazi and produced him before the court in compliance of his arrest warrants.

The court allowed bail to him, with the direction to the police to come up with the report on August 15.

It has been more than a decade that this scandal of millions of rupees could not reach its logical end. Mohsin Habib Warraich, Choudhry Monis Elahi, Muhammad Afzal and many others were declared accused in the case which has been still pending adjudication before the NAB court for years.