LAHORE: The Lahore High Court on Monday granted bail to Zafar Iqbal Gondal, involved in a Rs 130 million Employees Old-Age benefits Institution (EOBI) land purchase scam.
The court ordered the accused to submit two sureties of Rs one million to avail the bail.
Justice Ali Baqar Najfi passed the orders while accepting a post arrest bail of the accused.
Earlier, the defence counsel Asma Jehangir arguing before the court submitted that the Federal Investigation Agency had registered a case alleging that the accused in conveyance with other members of EOBI approved purchase of 684 residential plots in River Edge Housing Society at exuberant prices which caused a loss of Rs 130 million to the institution.
She contended that the charges levelled against the accused were baseless. She submitted that it was alleged that the approval was granted in violation of PEPRA rules despite the fact that PEPRA rules did not apply on purchase of land.
She submitted that it was further alleged that the approval was granted without permission of board of trustees whereas the board had already delegated powers to a sub-committee.
She maintained that allegation of exuberant prices were also unjustified as no proof was available.
She pleaded the court to grant benefit of bail to the accused as co-accused had already been granted bail in the matter.
However, Deputy Attorney General Imran Aziz and EOBI counsel Kashif Ali opposed the request and pleaded the court to dismiss the application.
However, the court after hearing arguments of both parties agreed with arguments of the defence counsel and granted bail to the accused.