KARACHI, May 28: Former president of the Bankers Equity Limited (BEL) Inamul Haq, who has been honourably acquitted by an accountability court, has filed a suit with the Sindh High Court for recovery of damages of over Rs210 million from the State Bank of Pakistan (SBP) and five other respondents.

The defendants have been put on notice for Aug 13, to answer the claim.

Represented by advocate Nuruddin Sarki, Mr Haq has held them responsible for filing false charges against him leading to his illegal arrest and detention, mental and physical torture and loss of his service.

Besides putting the main blame on the SBP, he has put the onus on the former SBP Governor, Dr Mohammed Yaqub, whom he accused of playing the major role in collusion with his political supporters.

He was removed by the military government soon after it came into power. A complaint had also been filed against Dr Yaqub by the former management of BEL with NAB for his questionable role as BEL chairman before it was privatized in 1996.

Other respondents include R. A. Chughtai, Deputy Governor of the SBP, Majeeduddin Khan, appointed CEO of BEL by the SBP, Major Mushtaq Ahmed (retd), the then DG, FIA, Shahid Mehboob, and Majeeduddin Khan. They have all been named in the suit to pay damages of Rs20 million each.

Mr Haq has contended that his acquittal, after a long trial, has established that charges of embezzlement and fraud against him were false and baseless. He has claimed that by going to the press and state-owned media before the matter had even reached the courts, Dr Yaqub had committed libel and defamation which had injured Mr Haq’s reputation and had caused him anguish and pain and suffering to him and his family, affected the health of his wife and the education and career of his children. His liberty had also been interfered with causing him physical pain and injury to his health.

Since no charges have been proved against him nor was a proper procedure followed, Mr Haq has regarded his removal by the SBP as unjustified and unlawful and has claimed additional compensation of about Rs10 million for loss of service and incurring other costs.