Karachi: Businessman’s plea against conviction admitted
KARACHI: The Sindh High Court on Tuesday admitted an appeal filed by Sadruddin Ganji, a business tycoon, against his conviction in a graft reference.
A division bench headed by Justice Maqbool Baqar issued a notice to the prosecutor of the National Accountability Bureau and put off the hearing to Feb 22.
The appellant was sentenced to seven years in prison and a fine of Rs1 million was imposed on him on Feb 2 by an accountability court that found him guilty of defaulting on the financial facilities he had.
According to the verdict, the prosecution through the evidence placed in court proved that the accused had obtained loan facilities from a private bank and upon non-repayment, the bank filed a recovery suit in the high court, which issued a decree to the amount of Rs657.635 million with 21 per cent markup.
According to the reference (12/2007) filed by the National Accountability Bureau, Sindh, Sardaruddin Ganji and his son Hashim Ganji of West Pakistan Tank Terminal obtained financial facilities worth Rs250 million from a private bank in 1996 for their firm, which was set up to import palm oil, export molasses and store stock in tank terminals. However, it said, the accused remained unable to pay back the loan.
The charge-sheet filed by NAB in 2007 alleged that the accused obtained the loan in the form of letters of credit for the import of palm oil and did not repay the amount as per agreement and committed wilful default of Rs1.122 billion.