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February 15, 2014

NAB court to hear Nationwala case on 21st

World

AFP
February 15, 2014

Karachi
The National Accountability Bureau (NAB) Court-I has to decide the fate of the legality of a case of alleged swindling of millions of rupees from more than 500 people by the owners of the Nationwala Financial Services Company (NFSC).
The NAB law makes a NAB court duty bound to decide the fate of such case within 90 days and the court will be conducting hearing of this case on February 21.
Advocate Muhammad Ahmed Qureshi, counsel for the prime accused Syed Zahid Ali, claims that the NAB authorities were actually investigating the matter since July 3, 2013 but nothing was placed on record.
On the other hand, a division bench of the Sindh High Court has to announce its ruling on the bail plea of Syed Zahid Ali on February 17. Earlier, the bench had reserved its order on his bail application.
The NAB court has already made it clear that it would be the last chance for the NAB authorities to prepare and file a reference in the case being heard against Syed Zahid Ali, Muhammad Sami, Abid Hussain, Yawar and others, who had allegedly received huge sums of money from the people for investment purposes and also paid profit to those who invested in their company.

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