KARACHI A local court on Tuesday granted physical remand of accused Ayaz Khan Niazi, former Chairman of the National Insurance Company Limited (NICL) involved in the land scams.
The court has granted the remand to the Federal Investigation Agency (FIA) on its Investigation Officers request.
Some nine out of 12 officials of NICL allegedly involved in the scams were already detained, FIA sources said while rest of them remain absconders.
Niazi wanted by the Federal Investigation Agency (FIA) in the cases of corruption and land scam was reportedly surrendered in Karachi and was produced before the court.
Sources said that the name of Niazi was placed in the Exit Control List (ECL) and his bank accounts were also frozen.
Niazi was among four directors of NICL.
Police have been looking for their alleged involvement in land scams in Lahore and Karachi.
Sources said that negotiations for plea-bargaining were underway since the accused directors of NICL including Qasim Dada and Mohsin Waraich were declared absconders.

This news was published in The Nation newspaper. Read complete newspaper of 24-Nov-2010 here.