The Supreme Court is all set to recover Rs 9 billion loans outstanding against Haris Steel Industries as it issued direction for Hamesh Khan, a former president of Bank of Punjab (BoP), the principal accused who fled the country last year, to appear before the court on July 14.
The BoP is alleged to have approved Rs 9 billion loans to Lahore-based steel companies, in violation of rules. Hamesh Khan, wanted by the National Accountability Bureau (NAB) for inflicting a loss of more than Rs 9 billion, had managed to flee the country, in May last year from Peshawar, despite his name being on the Exit Control List (ECL).
The court provided an incentive to Hamesh Khan for his return and directed the authorities not to arrest him till the next date of hearing. 'Gone are the days when cases were adjourned and matters were delayed. Return the money to the bank or get ready to face the music', observed Chief Justice Iftikhar Muhammad Chaudhry. A three-member bench of the apex court comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Chaudhry Ijaz Ahmed and Justice Jawwad S Khawaja also summoned all of the respondents for role in the scam.
In addition, the court ordered freeze over property of Haris Steel Industries, Lahore, till final disposal of the case. "Hamesh Khan should have appeared before the court and had apprised about the matter," observed the CJ, adding: "we should have accepted and welcomed him".
The Chief Justice told the counsel for Haris Steel Industries that there was no other option except paying the money back, and directed him to hold talks with the bank to discuss the mechanism for returning the money.
Advocate Khawaja Haris appeared as counsel for BoP, whereas Talib Rizvi represented Hamesh Khan, and Uzair represented Haris Steel Industries. Bank of Punjab (BoP) had requested the court to transfer the case from Islamabad High Court (IHC) to the SC, saying that the matter was being delayed there.
On September 27, 2007 the National Accountability Bureau (NAB) Punjab had filed a reference in an accountability court against 12 people including six officials of Bank of Punjab (BoP) and six others accused of Rs 9 billion fraud.
The investigation showed that the accused Sheikh Muhammad Afzal, Director, Harris Steel Industries (Pvt) Ltd, with co-accused Muhammad Munir, Ali Ijaz, Abid Raza and Irfan Ali with the connivance of the bankers, BoP ex-president Hamesh Khan, Haroon Aziz, Aziz ul Hameed, Muhammad Shoaib Qureshi, ex-general managers BoP Muhammad Adil Khan, Muhammad Nauman Arif and Muhammad Zia ul Haq, ex-managers BoP allegedly opened 23 fictitious accounts by their fake and forged national identity cards obtained loans of approximately Rs 9 billion from 2005 to 2007 with the help of fake documentation, bogus collaterals, fictitious guarantees and mortgage deals executed by fake persons.
It was highlighted in the reference that to hide the aforementioned fraud, all accused connived and merged 23 fake accounts with three main accounts of Harris Steel, Haider Steel and Prime Steel Traders on June 21, 2007. In addition, out of said 26 accounts in the names of above companies/firms, only one company, Harris Steel Industries, exists.
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