Judge Mir Mohammed Sheikh of the Special Banking Court pronounced his verdict after recording the evidence of witnesses and final arguments from both sides.
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The court ruled that the prosecution failed to produce sufficient evidence in order to prove its case against the accused persons beyond a shadow of doubt. The four directors of KKI and the four bankers, however, are being transferred to a prison in Lahore to face a separate trial regarding similar allegations of illegal international money transfers. The standing committee has directed the FIA to probe the issue and submit a report within 30 days.
Speaking to reporters later on Saturday, Waseem Ahmed said he was caught in a conflict between two institutions of the state and that he was considering the option of resigning from his position. The Supreme Court has ruled that his extension for one year was illegal and directed the government to sack him within three days.
The case of Khanani and Kalia
Ahmed said one institution wanted him removed while the other wanted to keep him. He could not contain his joy and suffered a heart attack and a large Vaccination drives have been intensified amid the recent surge of The year-old took to twitter to announce the development on Friday. Two people were also killed after the plane crashed into the sea. Over 38 million tests have been conducted across the country to date. Not everyone will be eligible for this service.
The authority on Friday took to social media to post the advisory. Dubai Police arrest French drug lord on the run for 10 years.
US arrests Pakistani money-changer Altaf Khanani
Kirron Kher diagnosed with cancer, undergoing treatment. Youth earns Dh, a month without leaving his bedroom. UAE healthcare group offers health check-up for Dh1 per day. Coronavirus: UAE reports 2, Covid cases, 2, recoveries, 2 deaths.
Dubai gold prices rise on Thursday: Will they come down again? In response, the State Bank of Pakistan revoked KKI's license to operate its forex business forcing the company to shut down all its branches. On 5 March , the directors of Khanani and Kalia International and four bankers were acquitted of all charges due to lack of evidence.
In response, the Supreme Court of Pakistan had an independent judge investigate the acquittal. KKI offered a number of services including currency exchange , home remittance , outward remittance and business administration.
1. History
The company had branches in Karachi, Lahore and Islamabad , and a franchises networked all over Pakistan. From Wikipedia, the free encyclopedia. ABC News website. Retrieved 16 May Dawn newspaper. The Express Tribune newspaper. INFO website. Archived from the original on 16 March PakistanToday newspaper. Categories : Financial services companies of Pakistan Foreign exchange companies Scandals in Pakistan Fraud in Pakistan Finance fraud Pakistani companies established in Financial services companies established in Pakistani companies disestablished in