Islamabad High Court (IHC) has rejected bail plea of EOBI Director General (DG) Wahid Khurshid Kanwar and Najm ul Saqib Siddiqui and ordered that they be arrested.
A single bench of IHC led by Justice Amir Farooq took up the case for hearing Friday. Advocate Ali Asghar Pasha and advocate Raja Rizwan Abbasi appeared on behalf of the accused persons and prosecutor Afzal Niazi represented FIA in the court.
Afzal Niazi told the court that the accused have been charged with increasing the cost of construction of Overseas Corporation Tower Project illegally. The cost of construction was increased from Rs 600 million to Rs 1,540 million illegally and inflicted massive loss to national kitty.
The court dismissed the bail plea of both accused after hearing arguments and ordered for their arrest.
FIA took both accused into their custody soon after they came out of court room. The other three co-accused in this case are already under detention of FIA since one year.
