Forex case: Four bank managers’ bail plea rejected

Updated at: 1335 PST, Friday, February 06, 2009

KARACHI: Banking crimes special court has rejected the bail application of four bank managers accused to be involved in the foreign exchange case against Khanani and Kalia Company, while FIA has been directed to submit final challan of the case by February 20. Special Court Judge, Muhammad Hussain Mallah has written in his decision that the investigating agency has collected enough materials against the petitioners Wajahat Ali, Arif ur Rahman, Masood Abbas and Taslim Ahmad and at this stage, they do not deserves bail out. However, the court ordered giving B calls in jail to all the four bank officers. Two directors of the company, Munaf Kalia and Javed Khanani were present in the court, but the third director Hanif Kalia was not brought in the court from jail, despite court orders, which the court taking serious notice ordered issuance of show cause notice to the jail superintendent.