ORDER SHEET
IN
THE HIGH COURT OF SINDH, KARACHI
C.P. No.D-3213 of 2011
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Date Order with signature(s) of Judge(s)
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1)
For Katcha Peshi.
2)
For hearing of Misc. No.14723/2011
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06.03.2013
Mr. Noor Muhammad
Dayo, ADPG, NAB along with I.O. Shahzad Bashir of
NAB.
Ms. Naheed A. Shahid, Advocate for
Respondent No.1
Mr. Pir Riaz
Shah, D.A.G.
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Through
instant petition NAB has called in question order dated 11.08.2011, passed by the
Judge, Accountability Court No.I, Karachi, in
Reference No.17 of 2011, whereby it has allowed the sale of the respondent’s
property in favour of Silk Bank for liquidation of the
outstanding liability of M/s. NIB Bank. Prosecutor
says that during pendency of reference, no property of the accused person can
be sold, therefore, the Court has no authority to
allow such sale. On the other hand, counsel for the respondent says that the
property was sold with permission of the Court and that too for the liquidation
of outstanding liability of the Financial Institution. In our opinion the
purpose of the bar imposed by the statute on the sale of the properties of the accused
person of-course is to ensure that the assets of the accused person are mainly
utilized to either liquidate his liability or in refunding ill-gotten gains or
as directed by the Court of law. In the instant case the petitioner has sold
out one of his properties to liquidate its outstanding liability towards N.I.B.
Bank and that too with the permission of the Court and we do not see any
violation in case where the funds received from such sale are utilized under
the supervision of the Accountability Court for the liquidation of outstanding
liability of a financial institution. No case for interference is made out,
petition is dismissed.
JUDGE
JUDGE
Gulsher/PA