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Money laundering case: IHC issues notice to Mian Mansha and SBP

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  • Post last modified:16/02/2016
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ISLAMABAD: The Islamabad High Court (IHC) has issued notices to Mian Mansha Group, State Bank of Pakistan, Federal Board of Revenue (FBR) and others in the case regarding siphoning of money to off shore accounts and construction of hotel in London allegedly by Mian Muhammad Mansha.

The court has sought reply from the respondents within two weeks.

A two-member bench of IHC, comprising Justice Shaukat Aziz Siddiqui and Justice Mohsin Akhtar Kiani, took up the case for hearing on Monday.

Advocate Shoaib Razzaq appeared in the court on behalf of Pakistan Welfare Party and told the court that Mr Mansha transferred billion of rupees worth to foreign countries illegally, and constructed a hotel worth 70 million pounds in London.

A Senate committee, pointing out the illegal money transfer, had written a letter to the State Bank for inquiring into the accounts where the money was transferred into.

The State bank, however, told the Senate committee that it could not verify the remittances. As per State Bank rules , it is necessary to seek permission from bank for transferring Rs 5 million and beyond.

Advocate Razzaq further maintained that the Nishat Group and Mansha family have admitted that they had transferred the money after paying the tax. “We have brought this case in IHC so that it should give orders to NAB for initiation of further action,” the counsel said.

The high court, while issuing notices to the respondents, adjourned the hearing of the case for two weeks.