LAHORE: The Lahore High Court has granted bail to Zafar Iqbal Gondal, former chairman of the Employees Old-Age Benefits Institution (EOBI), in six cases of corruption and misuse of authority.

Justice Sardar Shamim Khan allowed the bail to Gondal subject to furnishing of surety bonds of Rs2 million in each case.

Previously, the high court had granted the same relief to Mr Gondal last year. However, Federal Investigation Agency (FIA) had filed an appeal before the Supreme Court against the bail grant order. And the apex court had remanded the case to the high court for fresh decision.

The FIA had registered the cases against Gondal accusing him of violating EOBI’s investment rules in purchase of lands in Lahore, Islamabad and Karachi at exorbitant prices.

The agency alleged that Mr Gondal as chairman of EOBI had purchased 18 properties that amounted up to Rs42 billion from different parties through doubtful agreements. In his bail petition, Gondal contended that the cases against him were fabricated.

Published in Dawn, October 15th, 2016