ISLAMABAD - The Executive Board Meeting (EBM) of National Accountability Bureau (NAB) has approved an interim reference against Mufti Ehsan-ul-Haq and others and authorized inquires in three other cases.

The meeting, held here on Wednesday, was presided by Chairman NAB Qamar Zaman Chaudhry.

In the multi-billion rupees Modaraba scam, complaints were received from the general public as well as Securities and Exchange Commission of Pakistan (SECP) alleging therein that the accused Mufti Ehsan-ul-Haq, Chief Executive Officer of M/S Fayazi Gujranwala Industries Pvt (Ltd), and others are involved in illegal business of Modaraba and Musharika without approval from concerned authority.

The affactees/claimants during the course of investigation had alleged that the accused with the assistance of his accomplices lured the general public for investment in the name of Modaraba and Musharika, received heavy investments in the name of Modaraba, and thereby cheated them to the tune of Rs 6.5 billion. Thus the accused have committed the offences of cheating public at large.

An inquiry was authorized by the EBM against management of M/S Four Brothers International Pvt (Ltd), officers of Pakistan Railways and others for their alleged involvement in corruption and corrupt practices in awarding the contract and misappropriation of millions of rupees in operation of Business Train.

Another inquiry was authorized against the contractors, officers of Communication and Works Department (C&W) Punjab, and others for causing loss to the national exchequer amounting to a billion of rupees on account of bogus payments to different contractors.

Another inquiry was authorized against former Principal Bolan Medical College Quetta for alleged misuse of authority in appointment of her son in the same college and misappropriation of funds on account of purchase of books and fee of the students.

The EBM closed an inquiry against Ex-Director Pakistan Study Centre University of Peshawar and others being carried out for alleged embezzlement in funds in various heads of accounts of the Centre and misuse of authority.

The inquiry has been closed due to the death of main accused and insufficient prosecutable evidence/record in the case.