ISLAMABAD: The Islamabad High Court (IHC) on Thursday adjourned the hearing in pre-arrest bail of former president Asif Ali Zardari in laundering of billions of rupees through fake bank accounts.

A division bench comprising Justice Aamer Farooq and Justice Mohsin Akhtar Kayani conducted hearing of the petitions moved by the leader of Pakistan Peoples Party (PPP), and deferred the proceedings after his counsel sought time to submit his rejoinder in the case.

The bench also accepted Zardari's application seeking exemption for his personal appearance before the court.

During the hearing, the investigative officer of the National Accountability Bureau (NAB) submitted its reply in the case related to a suspicious transaction of Rs 8 billion.

In the case, the NAB has issued the arrest warrants for former president Asif Ali Zardari.

This case is related to a suspicious transaction of Rs 8.3 billion from Bahria Town through joint accounts of Zain Malik, son-in-law of property tycoon, Malik Riaz, into fake accounts.

In its reply, the NAB stated that the former president is required for investigation.

The anti-corruption watchdog opposed bail to the former president.

In its reply to the high court, the NAB stated the reasons for its opposition to bail to Zardari saying that the NAB was taking action against Zardari within legal boundaries and investigation was underway against the former president in accordance with the NAB ordinance.

It added that all the proceedings were taken in accordance with law and there was absolutely no violation of fundamental rights of petitioner, he had been given complete opportunity vide call up notice to clarify allegations levelled against him. The bureau stated that there was no statutory provision provided in the law, whereby, the NAB is bound to inform or notice before arrest hence, this petition is liable to be dismissed.

Therefore, the bureau prayed before the court that petition of Zardari seeking bail may be dismissed in the interest of justice.

At this, Farooq H Naek requested the court to grant some time to submit his reply in response to the NAB's reply.

Accepting his request, the IHC bench deferred hearing in this matter till November 5 for further proceedings.

Copyright Business Recorder, 2020