Accountability Bench of the Lahore High Court (LHC) on Wednesday granted bail to Aali Shafi ex-Muslim Commercial Bank (MCB) official and co-accused in Emirates Bank fraud case with the direction to release him forthwith.
Earlier, the counsel for the NAB Waqar Hassan Mir opposed the bail application while the petitioner's counsel argued his client was implicated in the case as co-accused of Farrukh Karamat son of ex-Army Chief General Jehangir Karamat.
The case was filed before the banking court which had acquitted him of the case, he added.
He pleaded that later the case was remanded to the accountability court and the NAB despite his acquittal arrested him on February 16 under the orders of its Chairman. He prayed the court to release him on bail.
Aali Shafi was facing the charges of using forged bank guarantee and confirmation letter and fraudulently got availed the finance facility from the Emirates Bank.