ISLAMABAD - The Islamabad High Court Monday issued notices to National Accountability Bureau in a petition of former chairman of Pakistan Stock Exchange Hussain Lawai seeking post-arrest bail in fake accounts case.

A dual bench of IHC comprising Justice Aamer Farooq and Justice Moshin Akhtar Kayani conducted hearing of the bail plea of Hussain Lawai who is said to be a close aide of Asif Ali Zardari and presently confined at Central Jail Landhi in Karachi.

The court issued notices to NAB directing it to submit its reply in this matter and deferred the proceedings.

Lawai moved the court through his counsel Syed Hamid Ali Shah Advocate and cited state, chairman National Accountability Bureau (NAB) and Prosecutor General NAB as respondents.

In his petition, he stated that the case against him is false, frivolous and politically motivated. “The investigating agency being motivated by malice, initiated the process of inquiry/ investigation without any reasonable or probable cause,” added the petition.

The petitioner maintained that the accounts opened, maintained and operated in other banks in the identical manner remained subject matter of the investigation and enquiry, no other banker similarly placed and was implicated in the FIR.

He continued that other co-accused in the case including Shahzad Ali, Zain Malik, Ali Malik Majeed and others filed the application under section 91 Cr.P.C for furnishing the surety bonds and undertook to appear before the court and the same was permitted.

Lawai contended that the inquiry and investigation of this case has not been conducted in a just, fair and impartial manner. “The arrest of the petitioner was carried out despite the absence of sufficient grounds to proceed against him. This by itself speaks volumes about the malicious conduct of the investigating agency,” he added.

According to the petition: “The petitioner has no nexus with the process of accounts opening, deposits, transfers, withdrawals of funds or any other transactions of cash handling in respect of alleged fake account(s). The petitioner was unaware of any transaction in the said accounts and by virtue of his position in the bank and job assignment, he had no involvement in the routine business of the branches.”

The petition further said that he is not, therefore, privy and party to any of the alleged offences and cannot be treated as an abettor or facilitator for the acts which were discernibly performed at the branch level.

Therefore, he prayed to the court to accept the present petition and grant him bail during pendency of trial.