ISLAMABAD: The Sindh High Court (SHC) has allowed the National Accountability Bureau (NAB) to hold investigations into Rs2b corruption against Jahangir Siddiqui Investment.
A two-member bench, headed by Justice Salahuddin, allowed the NAB to proceed against Jahangir Siddiqui Investment under the law as questions raised by it were not against a stay order granted by the court. The company had pleaded that it was cooperating with the NAB, so it should be exempted from personal appearance. It also requested to court to stop the NAB from further investigations.
According to the NAB, the company had benefitted from the scandal and it was asked to provide some documents, but it refused. It requested the court to allow more investigations against Jahangir Siddiqui Investment. The court observed that the NAB had not been provided answers to its questions and it could not be stopped from a probe. The court allowed the NAB to continue its work under the light of a Supreme Court verdict.
According to official documents, Jahangir Siddiqui Investment and NICL jointly invested Rs2b. According to a report by the Auditor General of Pakistan (AGP), the investment caused a loss of over Rs250m to the national exchequer. The Supreme Court took notice of the report and ordered the NAB to launch a probe
