LHC restrains NAB from giving final order on MCB case

LAHORE: The Lahore High Court on Monday restrained National Accountability Bureau from passing final order on an inquiry into Muslim Commercial Bank privatization issue against bank chairman Mian Mansha and director Khawaja Javed Iqbal.
The chairman and directors have approached LHC against continuous summoning from NAB in connection with the ongoing inquiry. They pleaded through their counsel that they purchased bank in auction after fulfilling all requirements. They pointed out that under section 42 of Privatization Commission Ordinance, an investigation agency could probe into within one year time but NAB has initiated inquiry after lapse of several years which is violation of section 42 of the ordinance.
They said NAB had been continuously served notices on them to appear before inquiry officers, and requested the court to suspend the notices.
Justice Shamas Mehmood Mirza heard initial arguments and stopped NAB from issuing final order on inquiry and sought replies from chairman NAB, law ministry and
privatization commission by October 20.