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LAHORE, Nov 7: An accountability court remanded two directors of Land Mark Construction Company in National Accountability Bureau’s custody on Wednesday for three days for allegedly misappropriating Rs19.61 million borrowed from the defunct National Industrial Cooperative Finance Corporation.
According to the prosecution, Ghulam Nabi and Chaudhry Muhammad Bashir had obtained the amount in several instalments.
Ghulam Nabi said he was ready to pay back his share of the borrowed money. The court instructed that their liabilities be assessed separately and they should be submitted to the court on next date of hearing.
The accused were arrested by the NAB on Tuesday.
The court also remanded for three days into NAB custody M Tariq Siddiqui, a former assistant director (Land) of the Karachi Development Authority.
The court directed that the accused be produced before an accountability court in Karachi after three days.
Mr Siddiqui is accused of illegally transferring plots, misuse of authority and living beyond his means.
NICFC MEN: Thirteen senior NICFC people will be indicted by an accountability court on Nov 20. The accused were provided copies of the reference prepared against them on Wednesday.
The court also issued bailable warrants for Salahuddin, one of the 13 accused.
Chaudhry Tajamul Husain and Chaudhry Abdul Majid, former president and managing director of the NICFC will be indicted on Nov 16 in a separate reference. — APP
