LAHORE, July 13: An accountability court on Saturday reserved its judgment till July 17 on an application moved by former Punjab co-operatives secretary Javed Iqbal Bukhari seeking his premature acquittal from a corruption reference filed against him.

The court reserved its judgment after arguments from both sides were completed.

The accused in his application moved under Section 265-K CrPC pleaded that the charges levelled against him by the prosecution were not maintainable since he had not committed an offence involving any financial irregularity. The accused pleaded the court to let him off on grounds that there was no case against him and his further trial would be against the law of natural justice.

The Section 265-K CrPC gives the right to an under-trial accused to move an application of his acquittal at any time during the trial if he feels that there are strong grounds for the acquittal.

While refuting the submissions of the accused, the prosecution contended that the reference against the accused had been filed before the court following thorough investigation. It was further submitted that the indictment of the accused on the very next hearing following the submission of reference also proved that there were no flaws in the charges made in the reference. Lastly, the prosecution pleaded that the pre-mature acquittal of the accused could not be allowed at this stage since the prosecution evidence was yet to be produce before the court.

“Without examining the prosecution evidence the court cannot exonerate the accused,” the prosecution pleaded.

Javed Iqbal Bukhari and defunct Services Co-operative Credit Corporation general manager Ejaz Ahmad Awan have been accused of causing a loss of Rs91.26 million to the national exchequer through a wilful default made on payment of loan procured illegally.

As alleged in the reference, Mr Bukhari with the abetment of co-accused Ejaz got a loan of Rs23.986 million sanctioned from the SCCCL in a flagrant violation of rules in 1987 to be paid off in 1991. However after, the matter was referred to the NAB, Mr Bukhari finally struck a deal with the NAB and the Co-operative Board for the repayment of loan in instalments earlier this year.

The NAB alleged that only the first instalment was paid by the accused after which he defaulted on the payment of the remaining amount.

“As a result of continuing default, the total amount of loan runs to Rs91.26 million liable to be paid by the accused,” alleged the NAB in the reference.

Co-accused Ejaz Ahmad Awan has already been convicted by an accountability court to 14 years RI and Rs5 million fine in a reference pertaining to the misappropriation of SCCCL funds.