IHC grants bail to Bilal Shaikh in fake bank accounts case
ISLAMABAD: Islamabad High Court on Thursday approved bail petition of Bilal Shaikh, a former president of Sindh Bank, ARY News reported.
A high court bench while granting bail, ordered Bilal Shaikh to submit a surety bond worth Rs. 10 million in the court.
on December 9, the National Accountability Bureau had filed eight references in the fake bank accounts case in accountability court.
According to the NAB, reference was lodged against alleged embezzlement in the Sindh Bank funds worth billions of rupees.
More than 20 accused including Bilal Shaikh, Tariq Ahsan and others were named in the reference, over allegations of awarding loan worth Rs.29 billion to the Omni group.
According to the reference Rs.25 billion out of 29 billion still have to be repaid.
The anti-graft watchdog was conducting investigations in pursuance of the Supreme Court’s verdict in the fake accounts case wherein the court forwarded the joint investigation team (JIT) report with directions to investigate and file references.