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NAB withdraws loan default reference against Faisal

21 February, 2005

ISLAMABAD: National Accountability Bureau (NAB) has filed an application with Supreme Court to with draw the loans default reference against Syed Faisal Saleh Hayat, minister for Kashmir affairs and Northern Areas.

Abdul Hafeez Peerzada, senior counsel of federal minister has also showed his concurrence on the application with raising no objection.

A full bench of Supreme Court comprising Justice Javed Iqbal and Justice Abdul Hameed Dogar and led by chief justice Nazim Hussain Siddiqui on Monday took up application for hearing filed by Begum Shahida Faisal on the NAB reference against her husband Faisal Saleh Hayat.

Abdul Hafeez Pirzada senior counsel of Faisal Saleh Hayat presented arguments before the bench till tea break pleading that his client had got rescheduled the loans amounting to Rs 480.6 million in the name of Shah Jeewna Mills. Reconciliatory committee set up by Governor State Bank had also submitted its report in June, 2004 in this connection, he argued.

He maintained that the court had already issued stay order in July 2000 in this case.

Following tea time, NAB deputy prosecutor general (DPG), Abdul Baseer Qureshi informed the court that NAB wants to withdraw from this case.

Justice Javed Iqbal observed that now after two hours of hearing DPG was talking about withdrawal. " You could inform about it early in the morning also. It was in your knowledge a week before that hearing of the case was going to take place ", he remarked while addressing to DPG.

" We have also come here with preparation after making study of over 300 pages of the case overnight. You should have taken care of the time of the court", Justice Javed Iqbal added.

Chief Justice Nazim Hussain Siddiqui remarked that verbal withdrawal from the case makes no difference. " You should file application in writing in this regard. This way so enormous time of the court has been wasted that your should adopt clear stance over it immediately so that other cases could be taken up", he observed while addressing to DPG.

He observed that a written application should be given by NAB in this case so that the court could make it part of record.

When court ascertained the views of Abdul Hafeez Peerzada, he submitted that he has no objection if NAB withdraws the case.

However DPG failed to file any written application till the closing hours of the court.

On inquiry from the court, it was told by NAB that written application would be presented within some time.

The court adjourned further hearing till today observing that if both the parties file application with mutual consent, the court will dispose of the case with necessary orders in the light of application.

Later both sides submitted application with mutual consent. The court is likely to announce its judgement today.


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