In a significant development in the 17-year-old Bank of Punjab (BoP) fraud case, an accountability court in Lahore rejected the National Accountability Bureau's (NAB) request to withdraw the reference, reported 24NewsHD TV channel on Monday.
Judge Zubair Shahzad Kiyani announced the decision and summoned witnesses to record their statements on November 26.
NAB Lahore had sought to withdraw the corruption reference filed in 2008 against the former BoP President Hamesh Khan, and CEO of Harris Steel Industries Sheikh Muhammad Afza , and others, citing a lack of evidence.
NAB prosecutor Shehryar had argued in favor of withdrawing the case, citing the bureau's chief instructions.
However, BoP's counsel, Khawaja Haris, strongly opposed the withdrawal. He argued that the NAB chairman’s directive to withdraw the reference was unlawful, as no consultation with the prosecutor general NAB Punjab was conducted.
He highlighted that the case had already progressed significantly, with testimonies of 81 witnesses recorded and only five remaining.
Khawaja Haris alleged that the accused had opened numerous fake accounts and committed large-scale fraud.
He questioned how individuals previously found guilty and involved in plea bargains could now be declared innocent.
The BoP counsel alleged that NAB prosecutors had colluded with the accused and urged the court to continue proceedings independently.
The accused, including Sheikh Afzal, appeared in court. Advocate Muhammad Umar Qureshi represented Sheikh Afzal and reiterated NAB's position, stating that no substantial evidence of corruption was found against the accused. NAB Lahore had earlier claimed a lack of evidence against the principal accused.
The case, initially filed in 2008, involves allegations of financial mismanagement and fraud at the Bank of Punjab.
Several accused individuals had entered into plea bargains, admitting their guilt.