LAHORE -- A Lahore High Court (LHC) division bench on Thursday reserved its verdict on Pakistan Muslim League-Nawaz Vice President Maryam Nawaz's bail petition in Chaudhry Sugar Mills (CSM) case.
The bench will announce the verdict on Nov 4. The division bench comprising Justice Ali Baqar Najafi and Justice Sardar Ahmad Naeem reserved the verdict on conclusion of arguments by National Accountability Bureau
(NAB) Additional Prosecutor General (APG) Jehanzaib Bharwana. At the outset of the proceedings, the APG opposed a civil miscellaneous application filed by Maryam Nawaz for her release on humanitarian grounds to look after her father.
He submitted that the application was not maintainable as there was no extra ordinary circumstances neither it was a case of hardship.
Opposing the main bail petition, the APG submitted that it was not a case of double jeopardy as the case was not a subject matter of joint investigation team (JIT) constituted by the Supreme Court in Panama case. The matter started on the basis of a Financial Monitoring Unit report wherein suspicious transactions in Chaudhry Sugar Mills accounts were reported in 2018, he added.
He further submitted that Maryam Nawaz's assets increased rapidly during the 90's and she possessed assets beyond her known sources of income. He submitted that Maryam Nawaz
possessed 6 per cent shares of mills in 1995, which dropped to 4 per cent in 2001 but suddenly number of her shares reached 47 per cent in 2008. Maryam Nawaz failed to explain as to how
these shares were accumulated, he added.
Referring to grounds of the arrest, he submitted that the accused also failed to explain sources of Us$ 4.8 million received from Nasir Abdullah Lotha's company in United Arab Emirates, besides money laundering of Rs 230 million. He submitted that the amounts were transferred from abroad in accounts of Yousaf Abass and Abdul Aziz Abass and finally it was transferred into accounts of the CSM, where petitioner was a shareholder and beneficiary. Maryuam also received Rs 70 million from the amount transferred into the accounts of the CSM, he added.
The APG submitted that it was falsely shown that US$ 4.8 was received from sale of shares of the CSM. Nasir Abdullah Lotha had got recorded his statement before a judicial magistrate in
Islamabad wherein he claimed that he did not purchase any shares of CSM nor sold them. However, Nasir had admitted that the amount was invested by the Sharif Family in his real estate...