CJP tells Axact’s Shaikh to cough up Rs 100m in 10 days

  • CJP inquires about payment of salaries to former Bol employees

ISLAMABAD: Chief Justice of Pakistan (CJP) Mian Saqib Nisar said on Monday that Axact CEO [Chief Executive Officer] Shoaib Sheikh could face imprisonment if he failed to deposit Rs100 million in the Supreme Court (SC).

A three-judge bench of the apex court headed by the CJP is hearing the Axact fake degree case. The bench ordered the Axact CEO to deposit Rs100 million within 10 days as overdue payment for BOL channel’s former employees.

CJP Nisar said, “If the company fails to deposit Rs100 million in the Supreme Court within 10 days, then the company head, Shoaib Shaikh, will have to face consequences and may even be imprisoned again.”

The chief justice also asked what cases related to Axact were pending, in courts and whether Axact’s CEO had been granted bail in those cases.

The Federal Investigation Agency (FIA) director general apprised the court that Shaikh had been granted bail in all cases.

The CJP said that bail granted to the Axact CEO should be cancelled if he failed to cooperate.

Justice Nisar asked, “What is the estimated amount that the company has to pay in salaries to Bol’s former employees?”

Shaikh’s counsel informed the court that the former employees claim that the owed amount equals to Rs300 million.

BOL’s CEO said, “ARY News owner Salman Iqbal owes salaries for two months and not us.”

Axact’s counsel added, “It will be difficult for us to deposit Rs100 million and the court can keep some property or anything else as a guarantee.”

The hearing was adjourned for the next 10 days.