Axact CEO Shoaib Shaikh's remand extended for two days.

ISLAMABAD -- A district and sessions court in Islamabad on Monday granted the Federal Investigation Agency (FIA) physical remand of Axact Chief Executive Officer (CEO) Shoaib Ahmed Shaikh for another two days in a Rs1.5 million bribery case registered against him.

The FIA arrested Shaikh on March 9 for allegedly giving Rs1.5m as bribery to then-additional district and sessions judge Pervaizul Qadir Memon for getting acquittal in a fake degree case. He had been in the FIA's custody for the last three days.

The FIA officials arraigned him before the court after the completion of his two-day physical remand.

The court accepted the extension request and remanded Shaikh for two more days in police custody for further investigation.

At the outset of the hearing today, the investigation officer sought an extension in the Axact CEO remand, maintaining that it was required to complete the probe in the case.

The official apprised the court that he has contacted the relevant forum to obtain the details of the suspect's bank accounts.

The court observed that a clip of a telephonic conversation between the...