The Sindh High Court (SHC) on Thursday sought comments from the Federal Investigation Agency (FIA) on the bail applications of two office-bearer of Aqeel Kareem Dhedi (AKD) Securities.
AKD Securities’ CEO Fareed Alam and two directors- Muhammad Iqbal and Tariq – approached the court through their counsel to obtain the bail.
Justice Syed Muhammad Farooq Shah heard the bail pleas and issued notices to the FIA directing them to make sure the submission of their comments on 28th January. The applicants submitted that the case was established against them just on the basis of a research report. They submitted that besides AKD Securities, there were other nominated companies but the investigators were targeting their company only.
The AKD official requested the court to grant them a bail as they had nothing to do with the embezzlement or corruption. The accused are facing charges of misappropriation of around Rs 290 million, causing great loss to national exchequer through EOBI shares. The applicants are currently in FIA’s custody and earlier the federal anti-corruption court had rejected their bail pleas.
