KARACHI, April 23: Judge Mrs Qaiser Iqbal of the Accountability Court No. 1 on Wednesday reserved order on an acquittal application filed by former chief of Habib Bank, charged with corruption and misappropriation of funds.

The court fixed May 6 for pronouncement of order on the application filed for the acquittal of Younus Dalia after hearing arguments from the special public prosecutor and the defence counsel.

Dalia and three other senior officials of the bank, Sabir Hussain, Pir Didar Hussain Sarhandi and Anwar Haider Qureshi, were booked for embezzling over Rs236 million in 1996.

It was alleged that a vigilance cell of the bank impounded over 50 vehicles, given under a scheme of then prime minister Nawaz Sharif, after the owners defaulted on the payment of the due instalments.

Later, the accused allegedly released the impounded vehicles after receiving due payments from the owners. They allegedly did not deposit the money in the bank.

The case was initially sent to the special court for banking offences. However, it was later transferred to the AC. All accused are on bail.

The public prosecutor opposed the acquittal application of the former HBL chief. He contended that the accused played an active role in the embezzlement of the funds and it was pre-mature to acquit the accused as the prosecution is yet to examine witnesses against him.

The defence counsel contended that there was no role of his client in the instant case. Moreover, he argued, his client was not even named in the FIR.

The defence counsel prayed the court to acquit the former HBL president as there was no likelihood of his conviction in the case.

Earlier, the former HBL chief had moved his acquittal application before the Sindh High Court.

The SHC, however, ordered the applicant to move the application before the trial court. The SHC also ordered the trial court to hear the acquittal application and pass order on it within one month.

JUDGE TAKES CHARGE: Former district and sessions judge, Hyderabad, Parkash Lal, assumed his office as the presiding officer of the Accountability Court No. 4.