Park Lane reference: SC gives 10 days to accused to submit record

ISLAMABAD: The Supreme Court on Friday directed the counsel for the accused nominated in the Park Lane reference to bring on record the relevant documents within 10 days.

A three-member bench of the apex court headed by Justice Mushir Alam heard the bail applications of the accused Iqbal Noori and Muhammad Haneef, nominated in the Park Lane reference case.

The counsel for the accused sought time for bringing on record the documents pertaining to the land mortgaged in lieu of the loan taken.

Justice Mushir Alam observed that not a single penny of loan was paid so far, adding that it was also not yet known for what purpose the loan was taken.

The counsel contended that the real benefits were taken by former president Asif Ali Zardari and Hussain Lawai who have been released on bail, while his clients are still behind the bars, adding that his clients Muhammad Hanif and Iqbal Noori were the employees of the company. He further submitted that Asif Ali Zardari and Abdul Ghani Majeed, who were the prime accused in the reference, got bail.

The counsel for the National Accountability Bureau (NAB) differed with the arguments of the counsel for the accused and submitted that Asif Ali Zardari and Abdul Ghani Majeed were granted bail on medical grounds.

Counsel for the accused further submitted that the NAB has recently filed a reference, while investigation in this regard is in progress, adding that the property mortgaged in lieu of loan still exists. He further told the court that the price of the property is more than the loan taken, however, the high court did not take into account the worth of the property.

The counsel for the accused further contended that the NAB had itself admitted that both the accused were mere employees of the company, while the real benefits were taken by Asif Ali Zardari and Hussain Lawai.

Justice Yahya Afridi asked as to whether the accused were ready to repay the loans. The counsel for the anti-graft body told the court that it is not a matter of repayment of loans, but money laundering. He added that the accused have taken loan of some Rs3.77 billion in violation of law.

The counsel for accused persons contended that the National Bank as well as Summit Bank has filed civil suits against the accused for the recovery of the loans. He submitted that if the court allows, he can submit details pertaining to the properties, mortgaged in against of the loans taken. Meanwhile, the court gave the counsel 10 days to do the needful and adjourned the hearing.