Karachi: Khanani and Kalia’s bail application hearing today
KARACHI: District and Sessions Judge, South, Faheem Ahmed, has deferred the bail applications of Munaf Kalia and Javed Khanani to Wednesday. Both men are in the custody of the Federal Intelligence Agency (FIA). Munaf Kalia, Javed Khanani and two employees of Khanani and Kalia International Rustam Ali Khan and Tariq Mehmood, were arrested by the FIA from Lahore, Karachi and Gujranwala two weeks ago for “illegally” transferring foreign currency abroad and violating foreign exchange laws.
The accused have been charged for their involvement in “physical transfer” of foreign currency from Pakistan and running the illegal Hawala or Hundi businesses, through which more than Rs38 billion were transferred out of the country.
Munaf Kalia submitted a bail application through his counsel Raza Hashmi in the court of District and Sessions Judge, Faheem Ahmed, who deferred hearing to the 27th. State counsel, Asmat Mehdi, requested the remand of both men for 14 days, but the defence counsel opposed it. After listening to arguments, the court adjourned the case to November 26.
Kalia was arrested under the Foreign Exchange Regulation Act (FERA), Section 4-8 under sub section 1 and Electronic Transfer Ordinance 2002 U/S 36, 37 and 38 against FIR 23/2008 crime circle branch FIA Lahore. Under FERA, Kalia is liable to be imprisoned for two years while in ETD 2002 he would be awarded 7 years punishment with Rs1 million fine if found guilty.