LAHORE, July 16: The United Bank informed an accountability court on Tuesday that the 150 kanal pledged land would be released if the former deputy speaker of the National Assembly, Haji Nawaz Khokhar, deposits Rs50 million.

The bank also refused to accept Haji’s offer to hand over his own 150 acres in place of the state land allegedly pledged by him for securing loan.

The court was informed that the total liability of the accused towards bank had been calculated at Rs50 million. The liability has been calculated in connection with a Rs10.59 million loan, secured by Nawaz Khokhar by pledging the land, not owned by him, to the Rawalpindi branch of the bank.

The bank refused to accept the land exchange offer on the plea that a liability could only be settled through cash payment.

The court directed the accused to file reply to the stance of the UBL by July 24.

Haji Nawaz Khokhar has been accused of getting 150 kanal Shamlat-i-Deh (land jointly owned by villagers) situated in Loi Bhe village near Islamabad transferred illegally in his wife’s name. He has also been accused of evading Rs1.8 million Zila Council fee on the land.

Nawaz Khokhar had, after pleading guilty to the charges, moved an application for plea bargain offering to surrender150 kanal and to pay Rs1.8 million alleged to have beenevaded.

After coming to know that land had been pledged against Rs10.50 million loan by the accused, the court had directed him to file the application afresh.

In his amended application, the accused offered to give 150 kanal form his own personal sources to the bank for the release of land pledged by him. The bank authorities were directed to consider the offer and inform the court in case of any legal hindrance.

Nawaz Khokhar moved plea bargain in November last for the first time when the court was to hear final arguments in the case. The application was turned down by NAB on the grounds that accused had not pleaded guilty to the charges.