ISLAMABAD: The Supreme Court was hearing the multi-billion-rupee NICL scam case on Wednesday, DawnNews reported.

A three-judge bench of the apex court comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Jawwad S. Khawaja and Justice Khilji Arif Hussain was hearing the case regarding alleged corruption in the affairs of the National Insurance Company Limited.

During the hearing, Chief Justice Iftikhar said that those involved in the scam should be arrested by Thursday.

Moreover, the court directed the Federal Investigation Authority (FIA) to submit a written reply over the recovery of money in the case.

The court was also irked over the FIA's failure to recover some 420,000,000 rupees from the Warraich family.

The court directed the authorities to arrest those involved in the corruption by tomorrow.

Subsequently, FIA's Director Legal Muhammad Azam Khan told the bench that the agency would be arresting Akram Warraich.

Earlier in July, the court had been informed that Akram Warraich, director of Farms (Pvt) Limited, had signed a five-year agreement to return the money and presented 10 post-dated cheques to the FIA. But the first cheque for Rs42 million as a guarantee for depositing the liable amount of Rs420 million got bounced on April 4 this year because there were no funds in the account.