Karachi: The Lahore High Court (LHC) granted on Wednesday bail to Pakistan Muslim League-Nawaz (PML-N) leader Khawaja Asif in the assets-beyond-means case initiated against him by the National Accountability Bureau (NAB).

A two-member bench headed by Justice Alia Neelum approved the PML-N leader's bail after hearing arguments from Asif's counsel and NAB prosecutor. Asif in his petition had contended that the bureau failed to produce any evidence, disproportionate to his known sources of income.

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He said he had already provided NAB with an explanation of various sources of income justifying the acquisition of the assets owned and possessed by him.

During the previous hearing, Justice Asjad Javed Ghural had recused himself from hearing the PML-N leader's petition for personal reasons. The bench then referred the case to the LHC chief justice for fixing it before another appropriate bench.

Asif was arrested by NAB in Islamabad on December 29, 2020. NAB has been conducting an investigation against him under Section 5 of the National Accountability Ordinance 1999 and Section 3 of the Anti-Money Laundering Act 2010.

The accountability watchdog has also claimed that the former foreign minister was running a benami company in the name of his employee, Tariq Mir.