' WAQAR AHMED SETH, J.---This judgment shall also dispose of the connected Writ Petitions bearing Nos. 557-A, 558-A, 559-A, 550-A of 2013 moved by Masood Anwar son of Khurshid Anwar petitioner (in cases F.I.R. Nos. 124 dated 17-2-2013 under sections 419/420/489-F, P.P.C. 138, 139, 140 dated 20- 2-2013 under sections 419/420 P.P.C. And 133 dated 19-2-2013 under sections 419/420/406/34, P.P.C.
And Writ Petition bearing Nos. 880-A and 881-A of 2013 filed by petitioner Bilal son of Malik Irfan (in cases F.I.R. No,134 and 138 dated 19-2-2013 under sections 419/ 420, P.P.C. Police Station City Haripur) for their release on bail, as common questions of law and facts are involved therein.
2. The brief facts, as per contents of F.I.Rs,, are that the complainants through various written applications lodged reports to the effect that the accused party established companies in the name of "Mega Shaheen, T for Trading and T for Trading 2" and started convincing campaign to the general public inviting them to invest their earnings in the companies and in return they will be paid adequate monthly profit. The people, on the assurance of accused party, invested/ deposited their huge amount with the accused party and some of them were paid profit to some extent whereas the remaining were not even given profit of a month. The complainants repeatedly requested the accused/Company for payment of profit and in some of the cases the accused issued the cheques, which on presentation were also dishonored.
3. The Regional Police Officer, Hazara. Region, Abbottabad, in the light of investigation so far carried out by the local police, came to the conclusion that accused party defrauded the general public by establishing companies in the name of "Mega Shaheen, T for Trading aid T for Trading 2" and with consultation of the District Public. Prosecutor Haripur opined as under:-- "In the light of available record and for the best public interest the matter be probed under section 9(ix) (x) of National Accountability Bureau Ordinance, 1999".
4. The Regional Police Officer recommended that NAB take up the cases in the larger public interest and admittedly the NAB authorities are still investigating the cases.
5. Arguments heard and record perused.
6. There is no denial of the fact that public at large from time to time not only initially invested / deposited but remained continued on investment / deposit of their earnings with the accused for the purpose of obtaining much more profit than the bank normal rate in the companies established by the accused party in the name and style of "Mega Shaheen, T for Trading and T for Trading 2". It also stands proved on record that accused party intentionally, defrauded the innocent people by extending high rate of profit in case of investment under the greenish attractive eyes but at the same time it is also expected by the public at large to remain vigilant from the chronic and deceitful persons. The people of the country are not so illiterate and foolish to throw their hard earnings on the attraction of gaining of high profit to the limbs of the accused/criminals rather they should remain vigilant about their fraudulent activities. The public at large on their own for the purpose of gaining of high rate of profit invested/deposited their hard earnings with the accused and in spite of the fact of knowing commission of fraud they lodged the reports at belated stages.
7. Although the accused party had intentionally defrauded the complainant under the garb of paying of high rate profit, which offence is heinous in nature, and none is allowed to loot the innocent people of the country fraudulently or through deceitful manners. However, in the instant petitions, the petitioners are behind the bars since the dates of their respective arrest and investigation is in progress and no useful purpose would be served by detaining the accused in jail for indefinite period waiting conclusion of either investigation or trial. Further, this Court has enlarged on bail co-accused Muhammad Amir involved in case F.I.R. No,134 dated 19-2-2013 under sections 419/420/406/34, P.P.C. In Writ Petition No, 429 of 2013 decided on 11-2-2014. So, on the principle of consistency the accused petitioners deserve to the concession of bail also. In case of conviction the accused shall be taken into custody to serve out the terms of imprisonment. In the case of Ch. Zulfiqar All v. The State reported as PLD 2002 Supreme Court 546, it has been held as under:-- "Constitution of Pakistan (1973), Art. 199---Bail---After the amendment in the National Accountability Bureau Ordinance. 1999 the jurisdiction of the Accountability Court for grant of bail remained ousted whereas after the omission of the words "including the High Court the High Court became vested with jurisdiction to grant bail in National Accountability Bureau cases under Art, 199 of the Constitution".
8. In the case of Chairman, National Accountability Bureau, Islamabad and another v. Asif Baig Muhammad and others reported as 2004 SCM R 91, it has been held as under:- S. 497---Bail, grant of---Constitutional jurisdiction of High Court---Accused was arrested by National Accountability Bureau and was in judicial lock-up High Court in exercise of Constitutional jurisdiction released the accused on bail---Plea raised by the Authorities was that High Court had wrongly released the accused in exercise of Constitutional Jurisdiction-Validity---Accused facing charges under National Accountability Ordinance, 1999, could approach High Court under Art. 199 of the Constitution---Application under S. 497 before High Court was not maintainable--- Supreme Court declined to interfere with the order passed by High Court in exercise of Constitutional jurisdiction---Leave to appeal was refused".
9. Consequently, all the Writ Petitions bearing Nos.501-A, 557-A, 558-A, 559-A, 550-A of 2013 filed by Masood Anwar son of Khurshid Anwar and Writ Petition bearing Nos.880-A & 881-A of 2013 filed by Bilal son of Malik Irfan are allowed and both the accused petitioners are directed to be released on bail provided each of them furnishes bail bonds in the sum of Rs,Two Millions with two reliable sureties, each in the like amount, to the satisfaction of Administrative Judge Accountability Court, Peshawar. The sureties shall be local, reliable and men of means.
10. Before parting with these petitions, it is directed that the accused petitioners shall remain associated with the investigation, as and when required by the NAB Authorities so that the process of investigation may be completed at the earliest, and in case of their non-cooperation/non- association towards completion of investigation, the NAB Authorities may move for their recall of bail.