' SARDAR MUHAMMAD ASLAM, J.---Through this petition, the petitioner seeks bail after arrest in case F.I.R. No,32, dated 18-10-2001 registered under section 409, P.P.C. Read with section 5(2), 47, P.C.A. At Police Station Crime Circle, F.I.A. , Lahore.
2. Application for post-arrest bail was moved by the petitioner. Notice was issued to the F.I.A. Who stated that the matter has been taken over by the NAB authorities. On issuance of notice, Ch. Abdul Sattar, learned Special Prosecutor for NAB along with Muhammad Sadiq J.I.O. NAB appeared in Court. The petition was disposed of in the following terms:--- ' "The investigation was taken over by the NAB authorities since January, 2005. The learned Special Prosecutor NAB states that no single Zimni has been recorded from that date till to date. The petitioner is behind the bars since 4-12-2003. The learned counsel for NAB on instructions from the Investigating Officer present in Court, undertakes that the investigation will be concluded within a period of one month positively. If the investigation is not concluded or reference is not sent to the Court within stipulated period of time petitioner may make fresh application before this Court."
3. Learned counsel 'for the petitioner argued that inspite of undertaking given by the respondent NAB to conclude the investigation within one month, same is still at initial stage and that the petitioner is behind the bars since 4-12-2003 and thus, is entitled to concession of bail.
4. On the other hand, learned Special Prosecutor for NAB opposed the grant of bail on the ground that a huge amount is involved and investigation is still in progress, disentitling the petitioner from release of bail.
5. Heard. Record perused.
6. The petitioner was a 'store keeper in WAPDA. After his retirement, shortage was found. Inquiry Committee was constituted which found net shortage in the store to the tune of Rs,49,94,357.11. The petitioner is behind the bars since 4-12-2003 without any progress in the investigation. Learned Special Prosecutor for NAB. Is not in position to give time frame likely to be consumed in investigation but is of the view that it may be concluded within 3 months. Petitioner's incarceration since 4-12-2003 and inordinate delay after undertaking given on 7-6-2006 makes out a case for exercising judicial discretion in favour of the petitioner.
7. For what has been discussed above, we allow this petition and direct the release of petitioner subject to furnishing of bail bonds in the sum of Rs,2,00,000 (rupees two lac only) with two sureties In the like amount to the satisfaction of D.R. (Judi:) of this Court.