Rs25bn loss to Sindh Bank: Court reserves verdict on pleas seeking acquittal

ISLAMABAD: The Accountability Court on Tuesday reserved its judgment on the petitions filed by former Sindh Bank president Bilal Sheikh and others seeking acquittal in a corruption reference regarding the loss of Rs25 billion to the Sindh Bank through money laundering.

Accountability Court-II judge Nasir Javed Rana while hearing the case reserved its judgment over the Shikeh and other accused pleas seeking acquittal till January 24. During the hearing, NAB prosecutor Usman Masood Mirza requested the court to decide about the jurisdiction of the court over the case instead of acquittal of the accused on merit.

He further argued that the court should determine whether, after amendment in the NAB laws, the case falls under its jurisdiction or not.

The jurisdiction of the court is mandatory for hearing the acquittal application, he said, adding that instead of acquitting of accused the reference should be sent to the relevant forum.

Sheikh’s counsel told the court that he agrees with the arguments of the NAB prosecutors. The court after hearing the arguments of both parties reserved its judgment.

Copyright Business Recorder, 2023