News

Karachi court sends reference against Iqbal Z Ahmad back to NAB chairman

By News Desk

February 7, 2024 02:51 PM


Iqbal Z Ahmed

An accountability court of Karachi has ordered to send the money-laundering reference filed against business tycoon Iqbal Z Ahmed and others back to National Accountability Bureau (NAB) chairman, reported 24NewsHD TV channel on Wednesday.

The court announced its verdict on the application of the accused in the Rs28 billion reference.

The court in its decision announced that bail of Iqbal Z Ahmed and other accused will remain on bail unless a reference is filed in the court concerned.

If the accused do not appear at the relevant forum after the notice issued by the concerned court or investigating officer, the bail amount will be forfeited, the court said.

The NAB has admitted that after the amendment in NAB laws, the court does not have the authority to hear the reference.

It may be mentioned here that on December 20, 2023, the Sindh High Court had ordered the transfer of reference from Hyderabad to Karachi accountability court.

Among the other accused named in the reference are Iqbal Z Ahmed's son Raziuddin Ahmed, Asim Iftikhar, Qazi Humayun Farid, Salamat Ali, Muhammad Ramzan and Faseehuddin Ahmed.

According to the NAB, there are allegations of corruption and money laundering of Rs28 billion against the accused.

Reporter: Mumtaz Jamali


News Desk


Most Read

  1. Yet another burden on people: Govt hikes oil prices Yet another burden on people: Govt hikes oil prices
  2. Nadeem Mahboob named federal health secretary Nadeem Mahboob named federal health secretary
  3. Public reacts to Bohemia's music video ‘Salsa’ starring Sistrology Public reacts to Bohemia's music video ‘Salsa’ starring Sistrology
  4. Palestinian Embassy denounces fake news of orphan adoption in Pakistan Palestinian Embassy denounces fake news of orphan adoption in Pakistan
  5. Saudis offered PIA, airports, joint ventures to build five-star hotels Saudis offered PIA, airports, joint ventures to build five-star hotels
  6. Team formed to probe woman’s death after tortured by cop on train Team formed to probe woman’s death after tortured by cop on train

Opinion

  1. Insights into the Pakistan Stock Exchange's Recent Record High Triumph
    Insights into the Pakistan Stock Exchange's Recent Record High Triumph

    By Zulfiqar Ali Mir

  2. IMEC to sabotage CPEC
    IMEC to sabotage CPEC

    By Dr Asif Channer

  3. 1947 TO FORM 47
    1947 TO FORM 47

    By Dr Asif Channer

  4. Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....
    Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....

    By Ali Ramay

  5. Global race: China will reduce its unnecessary expenses
    Global race: China will reduce its unnecessary expenses

    By Ali Ramay

  6. Channer Pir: The Great Saint of Cholistan
    Channer Pir: The Great Saint of Cholistan

    By Dr Asif Channer