Tuesday, July 7, 2009

Bail plea in forex scam case dismissed

KARACHI: The SHC dismissed bail applications of the three directors of M/s Khanani and Kalia International in a money laundering case on Monday.

A division bench comprising Justice Faisal Arab and Justice Safdar Ali Bhutto pronounced the order, which was earlier reserved on the applications of Muhammad Hanif Kalia, Abdul Munaf Kalia and Javed Khanani. Their counsel M Farogh Naseem stated that a challan was submitted in the case tried by the sessions court in Karachi functioning as tribunal under the Foreign Exchange Act. He said that FIA forcibly recorded statements of witnesses which had glaring contradictions, adding that in the light of the sessions court judgement, statements of the witnesses recorded by the prosecuting agency US161 CrPC were not admissible in court of law. Special Prosecutor Shahab Sarki opposed the plea stating that investigations were still in progress and grant of bail at this stage will hamper probe, he added.

The court order stated that at this stage it finds it premature to interfere with the impugned order. In its view, the prosecution has made out a prima facie case against the applications and as such bail is denied to applicants. ppi

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