Axact CEO Shoaib Sheikh fails to appear before court again


KARACHI: Axact CEO Shoaib Shaikh on Saturday failed to appear before the additional sessions judge (South) due to health issues and “threats to life”.

The jail official informed the court that Sheikh could not appear due to ill-health.

This was informed by a jail official earlier before the hearing began. The court adjourned the hearing till March 17 and demanded Sheikh be present for the next hearing.

During the hearing, SHO City Court informed the court that Axact CEO did not face any life threats as police officers in civilian clothes have also been deployed in the court to ensure security.

The judge also delayed Shoaib Sheikh’s plea to delay the hearing. “Are you suggesting I should ignore the orders of High Court and Supreme Court?” the judge asked.

On Friday, the Sindh High Court issued notices to the Federal Investigation Agency (FIA) on Shoaib Shaikh’s appeal against the verdict of an additional district & sessions court that rejected his bail application in ‘Hawala’ case.

The trial court on March 1 had thrown out the bail application of Shoaib Shaikh who was arrested by the FIA after the SHC accepted FIA appeal against his acquittal.

According to FIA, Shoaib along with others was involved in transferring Rs 170.17 million to a Dubai-based firm, Chanda Exchange Company, in April 2014 through an illegal channel. The defence counsel; however, denied the charges and requested the court to release Shoaib on bail.

In his bail plea, the Axact CEO prayed to the court to order his release on bail, contending the charges labelled against him were baseless. After the preliminary hearing, the SHC issued a notice to FIA and others directing them to submit their respective replies by March 14.