1. ' The petitioner has invoked the constitutional jurisdiction seeking pre-arrest bail in Reference No,80 of 2007 filed by the NAB pending adjudication in the Accountability Court at Karachi.
2. ' Precisely the facts leading to the case are that on receipt of a complaint from Mr. Gian Chand, Zonal Head, State Life Insurance Corporation (SLTC) against Syed Muhammad Taqi, Assistant Superintendent and Ayaz Shaikh, Assistant Superintendent for misappropriation of funds of State Life Insurance Corporation, Sukkur an inquiry was conducted followed by investigation report revealed that during the years 2001 to 2004 the above named accused while working in the accounts department prepared bills on account of medical, overtime, arrears, petty cash, bonus but mentioned huge amounts in the cheques issued against these bills, these bills and cheques were signed by co-accused Sikandar Ali, Taimoor Ahmed, Abdul Ghaffar and Fazal Karim Shaikh jointly, bills and cheques were prepared in the name of co-accused Syed Muhammad Taqi, Ayaz Shaikh, Syed Muhammad Naqvi and Syed Gohar Raza and subsequently deposited in their bank accounts as a consequence thereof in connivance and collaboration with each other they had fraudulently misappropriated the funds of SLIC to the tune of Rs,10.6 million from the official bank account Nos.2965 and 2966 later refunded Rs,4.29 million an amount of Rs,5.67 million is still outstanding.
3. ' We have heard Mr. Mahmood A. Qureshi learned counsel for petitioner and Mr. Ch. Muhammad Iqbal A.D.P.-G. NAB.
4. ' Learned counsel for the petitioner has contended that purported cheques were neither prepared nor the petitioner has any access to the record. The petitioner being proprietor of Messrs Hassan Photostat had a legitimate claim of Rs,160,279 through 21 cheques which were to be disbursed to him but he had received Rs,700,679 thereby in excess an amount of Rs,540,400 was allegedly received by him for causing wrongful loss to State Life Insurance Corporation. The prosecution witnesses namely Muhammad Arif and Mushtaq did not produce documentary record viz. Bank statement and accounts of the petitioner to substantiate the claim against the petitioner therefore, plausible evidence does not exists to connect the petitioner in the commission of the crime.
5. However, petitioner had volunteered to deposit a sum of Rs,3,00,000 towards the misappropriated amount out of misappropriated amount.
6. ' Learned A.D.P.-G. Appearing for NAB has strongly opposed the petition contending that sufficient evidence is on the record to connect the applicant in the commission of the crime.
7. ' We have considered the arguments advanced at bar and perused the record of the case.
8. The role of the petitioner seems to be subservient to the principal accused involved in the commission of the crime. The petitioner has volunteered to deposit major part of the misappropriated amount involved in the reference pending against him. The case has been set in motion. Charge has not yet been framed on account of the circumstances involved in the case. We are inclined to grant post-arrest bail to the petitioner.
9. ' In view of the above, the petition is disposed off in following terms:--
(1) Learned counsel for the petitioner has volunteered to deposit a sum of Rs,3,00,000 towards the misappropriated amount in respect of Reference No,80 of 2007 and shall deposit the same with the Nazir of this Court within 15 days hereof which shall be invested by the Nazir in a profitable Government scheme and shall be returned in favour of the petitioner or NAB subject to final result of the reference referred above and this amount shall remain intact till then.
(2) The petitioner, in view of the above, is admitted to bail subject to furnishing solvent surety in the sum of Rs,1,00,000 and P.R. Bond in the like amount to the satisfaction of the Nazir of this Court.
10. Petition stands disposed of in the above terms.