SECP Chairman Zafar Hijazi approaches IHC for pre-arrest bail

Securities and Exchange Commission of Pakistan (SECP) Chairman Zafar Hijazi on Tuesday reached Islamabad High Court (IHC) to apply for pre-arrest bail in record tampering matter.

On the directives of Supreme Court (SC), police have lodged criminal case against Zafar Hijazi for tampering the record of Sharif family's companies that was forwarded to Panamagate Joint Investigation Team (JIT) and formed a team for his detention.

Earlier during the hearing, Justice Sheikh Azmat Saeed had stated that the apex court also instructed to drill the name of person on whose orders SECP chairman clandestinely altered the records.

Federal Investigation Authority (FIA) had endorsed allegations leveled by Panamagate JIT's head Wajid Zia and found SECP chairman Zafari Hijazi guilty of tampering with record of Sharif family's companies. The authority had penned a letter to Interior Ministry to put offender's name on Exit Control List (ECL).

It has been disclosed that Zafar Hijazi had on June 29, 2016, ordered Ali Azeem and Maheen Fatima to close the inquiry of Chaudhry Sugar Mills in the date of January 2013. He also pressurized his subordinates to forge the records.

The inquiry committee recorded statements of 12 officers and found SECP chairman guilty of “misconduct by passing illegal orders and pressuring his subordinates to do illegal acts. It called for lodging a case under Sections 466, 472 PPC read with 5 (2) PCA 1947 against him.