| Case ID |
2b427ac2-3639-4d22-84fb-781a71c7ad6c |
| Body |
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| Case Number |
W.P. No. 1755 of 2016 |
| Decision Date |
Jun 16, 2016 |
| Hearing Date |
|
| Decision |
The Islamabad High Court dismissed the petition for bail after arrest filed by the petitioner, Sham-us-Rehman, stating that he was co-accused in Reference No. 16/2015. The court found that the petitioner, who is the Chief Executive of Al-Barka Marketing Pvt. Ltd., was involved in collecting investments from the public without the necessary authorization. The court emphasized that at the bail stage, it does not engage in deep fact assessment but rather a prima facie evaluation. Given the evidence presented, including multiple complaints against the petitioner, the court concluded that he was not entitled to bail. The petition was deemed without merit and subsequently dismissed. |
| Summary |
In the case of Sham-us-Rehman vs. National Accountability Bureau, the Islamabad High Court addressed a bail petition concerning allegations of fraudulent investment activities by Al-Barka Marketing Pvt. Ltd. The petitioner was accused of misappropriating public funds under the guise of Islamic investment principles. The court highlighted the necessity of evaluating the evidence at the bail stage, leading to a decision against granting bail. Notably, the case reflects ongoing concerns regarding investment fraud in Pakistan's financial landscape, underscoring the importance of regulatory compliance and the protection of public interests. The court's ruling serves as a critical reminder of the legal repercussions faced by those engaging in unauthorized financial activities, particularly under the scrutiny of the National Accountability Bureau. Legal practitioners and stakeholders in the financial sector should take heed of this case as it illustrates the judiciary's stance on accountability and the rigorous enforcement of laws governing financial operations. |
| Court |
Islamabad High Court
|
| Entities Involved |
Securities & Exchange Commission of Pakistan,
Al-Barka Marketing Pvt. Ltd.
|
| Judges |
AAMER FAROOQ,
MIANGUL HASSAN AURANGZEB
|
| Lawyers |
Mr. Abdul Aleem Turabi,
Sardar Muzaffar Ali Khan,
Mr. Adnan Mehmood
|
| Petitioners |
Shamus-Rehman
|
| Respondents |
2 OTHERS,
NATIONAL ACCOUNTABILITY BUREAU,
CHAIRMAN NAB
|
| Citations |
2019 SLD 2773,
2019 PLJ 165
|
| Other Citations |
2016 SCMR 154,
2016 P Cr.LJ 79
|
| Laws Involved |
Constitution of Pakistan, 1973,
Criminal Procedure Code (V of 1898)
|
| Sections |
199,
497
|