ISLAMABAD: The Supreme Court (SC) on Monday ordered authorities to release former Pakistan Television (PTV) managing director Dr Shahid Masood on bail.
The decision was made as a two-member bench headed by Justice Manzoor Ahmed heard a case regarding allegations of financial misappropriation against Masood.
The top court approved the anchorperson’s release on bail bonds worth Rs500,000, while observing that three others accused in the case have been granted bail.
Dr Shahid Masood was arrested by the FIA on November 23, 2018, in a case of his alleged involvement in financial embezzlement in PTV during his tenure as the MD and chairman of the state-run television.
Masood is accused of involvement in the embezzlement of Rs37 million in acquiring Pakistan Cricket Board (PCB) media rights in 2008 during his tenure as the managing director and chairman of the state-run broadcaster. Reportedly, the agreement was carried out with a fake company — M/s International Sports Solution (ISS) and the investigators claim that funds were also released, causing the loss of millions of dollars to PTV as the state-run broadcaster failed to acquire PCB media rights from 2008 to 2013.