ISLAMABAD, Oct 22: Former accountability bureau chief Saifur Rehman on Monday denied charges of committing any wilful default and blamed United Bank Limited for breaching agreements and violating State Bank regulations.

Recording his statement under section 342 CrPC before the accountability court No II, the former senator stated that the prosecution had failed to produce any evidence to prove the allegation of wilful default.

The court adjourned the hearing for October 29. Final arguments will start on that date.

The accused, assisted by Mujeebur Rehman advocate, stated before the court that the prosecution had no evidence to show when and which amount became due against his company and how overdues were calculated.

Mr Rehman and his family members, as directors of Redco Textile Mills, are being prosecuted for wilful default of Rs916 million they had taken as loan from UBL.

Besides, the main accused his brother Mujeebur Rehman, father Amanullah Khan, mother Taufiqa Amanullah, wife Muneeza and sister Ms Surriya Asad were the directors of the company.

The lady directors had already told the court that they had only 1 to 2 per cent shares in the company; that they were not actively involved in the business and their positions as directors were only nominal and ceremonial.

Mr Rehman and his younger brother are in jail but their youngest brother has been declared absconder by the court.

Recording his statement, the jailed senator said that the bank had also failed to produce any record about repayments of Rs290 million made by the Redco.

The accused said that the bank had purposely withheld the documents and had not taken the accountability court into confidence about the true state of the accounts.

Mr Rehman explained that his was a public limited company, of which 50 per cent shares were with the stock exchange. The Redco shareholders include some joint stock companies and even some financial institutions. “My shares in the company is only 29 per cent,” he said.