ORDER SHEET

 

IN THE HIGH COURT OF SINDH AT KARACHI

Cr. Misc. Application No.343 of 2012

 

DATE

ORDER WITH SIGNATURE OF JUDGE.

 

 

1.    For orders on M.A.No.233/2013.

2.    For Katcha Peshi.

 

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17.01.2013

 

Mr. Mohammad Khalil Dogar Advocate for the applicant.

Ms. Sheeraz Iqbal standing counse.

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          Through this application, reduction of surety amount has been sought. Learned counsel appearing for the applicant contends that on account of embezzlement of Rs.100 Million, crime No.36/2011 was lodged by FIA Crime Circle, Karachi and consequently a sum of Rs.95417024/- was recovered and the present outstanding is Rs.46 lacs. Per counsel learned Special Court vide its order dated 18.12.2012 granted bail to the applicant against surety in the sum of Rs.10 Million, which led to moving an application of reduction of surety and ultimately, the Special Court reduced the surety amount from Rs.10 Million to Rs.2 Million. Counsel says that the applicant even is not in a position to pay such amount and therefore, prays for reduction of the surety. Sub section (7) of Section 5 of the Ordinance 1984 provides that the surety amount shall be equivalent to the amount embezzled and the dicta laid down by this Court in various judgments is that such embezzled amount is to be equally distributed amongst the persons charged for determining the amount of surety and since there are four accused persons involved in the instant crime, therefore, the surety amount worked out would be Rs.10 Million for the each accused.

Learned standing counsel is not in a position to controvert the legal position.   

In the circumstances, we while allowing this application, reduce the surety amount from Rs.2 Million to Rs.1 Million in terms of the order of the Banking Court.

 

JUDGE

 

 

 

JUDGE

 

 

 

 

 

 

 

Wasim ps