Lahore: Former NICL chairman`s bail plea dismissed
LAHORE, March 11: The Lahore High Court on Friday dismissed bail petition of former National Insurance Corporation Limited (NICL) chairman Ayaz Khan Niazi, the main accused in the company’s land scam.
The accused through his counsel pleaded that he had no role in the scam but the Federal Investigation Agency had dragged him into the case with mala fide intention.
However, an FIA official informed the court that the accused was involved in fraud of 803-kanal land of the NICL and this allegation had been proved during investigation.
Justice Manzoor Ahmad Malik after hearing both sides rejected the bail petition of Niazi. The FIA also accused him of paying huge claim amounts to contractors in connivance with his colleagues in violation of rules. It alleged that Niazi and others paid huge money to contractors after getting claims through fake surveyors.
Meanwhile, Justice Malik allowed bail to another accused of the scam, Ayub Siddique Butt, and directed him to submit bail bonds of Rs1 million.
PML-Q leader Moonis Elahi also submitted his bail bonds of Rs100 million before the LHC registrar judicial. The court had granted him bail on Thursday.