Law:

Section:

Constitution of Pakistan, 1973-- ----Art. 199--Bail in accountability Court, refusal of--Allegations of misappropriation/embezzlement on pretext of trading of share in stock exchange--Reference against accused--Civil liabilities--Entitlement of bail--Validity--Mere pendency of proceedings under Companies Ordinance, 1984 are not sufficient to absolve petitioner from criminal liability which is otherwise made out from allegations levelled in Reference--Even otherwise, it is well settled principle of law that civil and criminal proceedings can proceed side by side--At bail stage, only tentative assessment is required and deeper appreciation is not permissible--Petitioner is involved in alleged offence and he being director of company had cheated public at large--Petition was dismissed. THIS ORDER PASSED BY: MUHAMMAD TARIQ ABBASI, JUSTICE:---.--- Through instant petition, the petitioner namely Wassi Ullah Khan seeks post arrest bail in Accountability Court Reference No. 52 of 2015. 2. Precisely the allegations against the petitioner are that being Director of M/s. Wassi Securities (SMC) Private Limited, he mis-appropriated/embezzled Rs. 67.76 million from the accounts of general public on the pretext of trading of shares in Lahore Stock Exchange. 3. Learned counsel for the petitioner submitted that no offence is made out against the petitioner under the NAB Ordinance, 1999. He added that the petitioner has already moved winding up petition and in view of the pendency of the same, NAB authorities are precluded to proceed against the petitioner. Learned counsel maintained that at the most, a civil liability is made out from the allegations levelled in the Reference and the petitioner is entitled to be released on bail as he is suffering behind the bars before his guilt is proved. 4. Conversely, learned Addl. Deputy Prosecutor General appearing on behalf of NAB has vehemently opposed the instant petition. 5. We have heard the learned counsel for the petitioner as, well as learned Addl. Deputy Prosecutor General for NAB and also perused the record with their assistance. 6. The prosecution against the petitioner was started on the complaint of…

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