LAHORE: The Lahore High Court (LHC) on Thursday declared as unlawful a joint investigation team (JIT) constituted to investigate sugar mills of the Sharif family and PTI leader Jahangir Tareen.
A high court bench announced the verdict on petitions filed by Al-Arabia Sugar Mills and Faruki Pulp Mills challenging the FIA inquiries in light of the sugar commission’s report.
Also Read: PSMA, 84 sugar mills served show-cause notices over forming cartel
The Sharif family owns Al-Arabia Sugar Mills while Faruki Pulp Mills belongs to Tareen.
The court declared notices issued to both mills by the Security & Exchange Commission of Pakistan (SECP) void.
Ruling that the Federal Investigation Agency (FIA) has powers to carry out the inquiries, the bench observed that it needs to be determined under what law the agency conducts these probes. The court said it would dwell on the FIA’s powers in its detailed verdict.
Also Read: IHC dismisses sugar mills petition over inquiry commission report
The petitioners contended that the action being taken by the FIA was illegal for it was ordered by the federal government. They argued that an inquiry being held on the order of the federal government could not be transparent and impartial.
The post Court invalidates JIT formed to probe Sharif, Tareen sugar mills appeared first on ARY NEWS.
ALSO VISIT FOR ONLINE EARNING Google Class
