Islamabad: Former chairman of National Insurance Company Limited (NICL) was arrested for his alleged involvement in multi-billion scam on Sunday.
He was taken into custody on the orders of a Supreme Court’s division bench headed by Chief Justice of Pakistan Mian Saqib Nisar and also comprising Justice Muhsir Alam. A two member bench comprising Chief Justice of Pakistan Mian Saqib Nisar and Justice Mushir Alam heard the case of alleged corruption in NICL.
Former Chairman Ayaz Khan Niazi of NICL appeared in the court. The court was told that the accused was on bail from courts in cases of FIA. However his bail is ineffective due to transfer of cases from FIA to NAB. Supreme Court has said that if Ayaz Khan Niazi is not on bail from court then he can be arrested.
The court ordered for immediate arrest the other accused, Mohsin Habib Warraich in the case. Supreme Court has ordered that Accountability court Karachi and Lahore should decide the case according to the law within two months and legal action should be taken against former Chairman Ayaz Khan Niazi. Following the court orders National Accountability Bureau (NAB) has arrested the former Chairman Ayaz Khan Niazi of the NICL in the corruption case.
