Money laundering case: Namar's arrest skipped for ensuring payment of bank loans, says CJP
The Omni Group counsel requested ten days time as 'they are in talks with the affected banks'.
ISLAMBAD (Dunya News) – The Chief Justice of Pakistan (CJP) Mian Saqib Nisar has said on Tuesday that Namar Majeed has not been arrested so he could manage to return loans the Omni Group had taken from different banks.
The Supreme Court resumed hearing in money laundering case involving Rs. 100 Billion transactions through fake bank accounts. The CJP said the joint investigation team (JIT) formed to probe into money laundering case has started receiving information and now report is awaited.
During the proceedings, Director General Federal Investigation Agency (FIA DG) Bashir Memon told the Apex Court that Omni Group had deposited Rs.11.29 Billion worth of assets in the bank as surety.
The FIA DG said that the financial group should have paid off loans gotten from National Bank of Pakistan (NBP) and Sindh Bank.
The CJP said that Namar Majeed is present in the court, and paying back loans of National Bank and Sindh Bank should be prime concern as banks are suffering losses which shall be compensated by Omni Group.
The Omni Group counsel Muneer Bhatti requested ten days time as they are in talks with the affected banks . Muneer Bhatti told the court that group s assets deposited in United Bank Limited (UBL) have been frozen by FIA, and prayed to court to effect the loans repayments from those accounts. The hearing has been adjourned till Nov 5.
