Law: Foreign Exchange Regulation Act, 1947

Section: 4 (i), 5, 23(3A)

Law: Criminal Procedure Code (V of 1898)

Section: 265-K

Foreign Exchange Regulation Act (VII of 1947) Ss. 4 (i), 5 & 23 (3A)---Criminal Procedure Code (V of 1898), S. 265-K---Illegal sale and purchase of foreign exchange---Appreciation of evidence---Appeal against acquittal---Pre-conditions---Non-recovery of foreign exchange---Authorities were aggrieved of acquittal of accused persons by Trial Court under S.265-K, Cr.P.C.---Validity---Prosecution failed to recover any foreign currency from accused persons and it never alleged that bank transaction of Pakistani currency established link of acquitted accused persons in the business of foreign currency---Mere huge transactions of account holders in Pakistani currency in bank accounts were not sufficient to constitute a cognizable offence under Foreign Exchange Regulation Act, 1947---Initial burden always lies on the shoulders of prosecution to prove the case and without substantiating the same through tangible evidence, prosecution version becomes doubtful---High Court declined to interfere in the findings rendered by Special Tribunal which were legally correct and there was no infirmity, perversity or legal error in the order of acquittal of accused persons---Once accused was acquitted after full application of mind, even at pre-evidence stage, presumption of double innocence was attached, unless it was shown to be perverse or based on misreading of material---Appeal was dismissed in circumstances. PLD 2010 Lah. 692; Said Afzal and another v. The State and others 2018 YLR 1256; State v. Zahid Khan 2022 CLD 484 and Nasrullah alias Nasro v. The State 2017 SCMR 724 rel.              Date of hearing: 16th October, 2025.                                                                                                                  Order        Sardar Ahmad Haleemi, J.---The instant Criminal Acquittal…