RAWALPINDI, June 4: The Supreme Court has cancelled the pre-arrest bail of a man, who received 37.80 million from the Federal Employees Housing Foundation (FEHF) as earnest for purchasing 2,000 kanals of land, but embezzled the money.

On the petition of FEHF Law Officer Malik Zafar Abbas, the apex court cancelled the bail of M/S Universal Enterprises’ Agha Raza Abbas Qazilbash, who had earlier obtained a pre-arrest bail from the sessions court, Islamabad, and had got it confirmed by the Lahore High Court.

A Supreme Court bench directed the respondent on Tuesday to deposit his passport in its registrar’s office, and ordered the placement of his name on the exist control list.

Malik Abbas stated in his petition that the FEHF had entered into an agreement with M/S Universal Enterprises for the purchase of 2,000 kanals of land along Raiwind Road, Lahore, on July 8, 1994.

Under the agreement, M/S Universal Enterprises had to provide land free from all encumbrances and for that purpose, Rs37.80 million was given to the firm as earnest money.

The partners of M/S Universal Enterprises included Zahid Shafique and Agha Raza Abbas Qazilbash. Later, another agreement was signed according to which Qazilbash had to provide 1,000 kanals of land, instead of 2000 kanals.