An accountability court on Wednesday extended the judicial remand of Adil Saleem Tikka, nominated in a property fraud case until June 22. Tikka transferred the property known as QASR-e-ZOUK and owned by Sheikh Muhammad Ayub, using fake documents.
NAB had nominated Tikka on the Supreme Court’s directions issued during the hearing of a suo motu case. The court, while extending the judicial remand, directed NAB to file the reference against the accused by the next date of hearing
PHYSICAL REMAND EXTENDED: An accountability court on Wednesday extended the physical remand of Javed Iqbal and Muhammad Shafi, partners in Khalid Oil Mills Vehari, until June 22. Iqbal and Shafi had been arrested on charges of obtaining pecuniary advantage of Rs 4.69 million by illegal means.
They availed running cash facility from MCB Vehari in 2003-4 against a pledged stock of cottonseed oil and sunflower oil cake. Subsequently the accused misappropriated the pledged stock without paying outstanding liability thus causing a loss of Rs 4.69 million to the bank.