Law:

Section:

(a) Criminal Procedure Code (V of 1898)-------S. 497---Foreign Exchange Regulation Act (VII of 1947), Ss.4, 5, 8(1)/23---Penal Code (XLV of 1860), Ss.409/420/468/471/109---Prevention of Electronic Crimes Ordinance (IV of 2008), Ss.4/7/8/9---Prevention of Corruption Act (11 of 1947), S.5(2)---Constitution of Pakistan (1973), Art. 185(3)---Criminal breach of trust, cheating, forgery and using as genuine a forged document---Bail, refusal of---Certificate of Chartered Accountant relied upon by the accused to show that the allegation of a fuzzed foreign exchange had no basis, could not be relied upon at bail stage before the Supreme Court as the same was neither produced before the investigating agency nor before the Trial Court or the High Court and was presented before Supreme Court for the first time---Court at bail stage had only to see whether accused was connected with the commission of the crime or not by making only tentative assessment of available evidence---Deeper appreciation of evidence and circumstances appearing in the case was neither desirable nor permissible at such stage---Accused were holding a licence from State Bank of Pakistan to deal with the money exchange business and they had not only violated Rules and Regulations of State Bank of Pakistan, but apparently had also acted against the interests of the country by scuffing huge amounts of foreign exchange---Discretion to grant bail, therefore, could not be exercised in favour of accused---Bail was declined to accused and leave to appeal was refused to him accordingly. Collector of Customs, Collectorate of Customs Rawalpindi v. Khyd-e-Noor and others 2006 SCMR 1609 and Muhammad Ilyas v. Shahid Ullah and other PLD 2009 SC 446 ref. (b) Criminal Procedure Code (V of 1898)--- ----S. 497---Bail, grant and refusal of---Discretion, exercise of---Discretion of grant or refusal of bail under section 497 Cr.P.C. must be exercised on judicial principles according to the facts and circumstances of each case. S.M. Zafar, Senior Advocate Supreme Court and Arshad Ali Ch., Advocate-on-Record for Petitioner. Azam Nazir Tarar, Advocate Supreme Court/Special Public Prosecutor for Respondent. Dates of hearing:…

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