LHC rejects Niazi’s bail in NICL scam

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LAHORE – The Lahore High Court (LHC) on Friday dismissed former National Insurance Company Limited (NICL) chairman Ayaz Khan Niazi’s bail petition in the NICL land purchase scam. Niazi, through his counsel, submitted that he had no role in the NICL scam but the Federal Investigation Agency (FIA) dragged him into the case. A FIA official informed the court that Niazi was involved in the 803-kanal scam and the allegation has been proved during the investigation. After hearing arguments, Justice Manzoor Ahmed Malik dismissed Niazi’s bail petition. The judge granted bail to another NICL scam accused Ayub Siddique Butt and directed him to submit bail bonds worth Rs 1 million.

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2 COMMENTS

  1. Kindly stop this case and stop sensationalizing it. We get to hear a new political name after every couple of days. We have heard enough lies against Mr. Niazi. What is Niazi’s fault? Handing himself over to FIA so that FIA can investigate him or maybe he’s at fault because NICL reported the highest profit during his tenure. NICL performed so well that it broke past records for Revenue and yet Niazi is behind bars and false accusations are being put against him on a regular basis. Jan meri, Niazi was never a nightclub manager. We should not make up stories to defame anyone.

    – NIAZI WAS THE GLOBAL HEAD PRIVATE BANKING STANDARD CHARTERED BANK so kindly state that.
    – DURING NIAZI’S TENURE, NICL RECORDED HIGHEST REVENUE / PROFIT FOR PAST 10 YEARS
    – STAFF SALARIES HAVE BEEN TREMENDOUSLY INCREASED
    – NEW PROFITABLE PROJECTS HAVE BEEN LAUNCHED
    – NIAZI HAS TURNED HIMSELF IN VOLUNTARILY TO FACE ALL ALLEGATIONS
    – NIAZI HAS BEEN IN JAIL FOR OVER 8 MONTHS NOW

    These are just facts that come to mind and if anyone has had the opportunity to meet Mr. Niazi, he or she would know that he is a very decent and hard working person. The judge should grant bail to Mr. Niazi and should support him because he handed himself over and give him benefits for giving himself in voluntarily and not penalize him further.

  2. The above comments reflect true facts and figures. Mr niazi is innocent he has no role in NICL corruption. We appeal to CJ of Pak kindly release him……..

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