KARACHI - The Sindh High Court (SHC) on Monday approved the Federal Investigation Agency's (FIA) appeal against the acquittal of Chief Executive Officer of Axact, Shoaib Shaikh and others accused in the money laundering case.
A division bench of the SHC, headed by Justice Naimatullah Phulpoto, was hearing an appeal filed by the FIA challenging the acquittal of Axact chief in a case pertaining to illegal transfer of Rs170.17 million to a Dubai-based firm, Chanda Exchange Company, in April 2014.
The two-member SHC bench sent the case to the trial court for further proceedings. Besides, the sessions court was earlier ordered to charge the accused persons and finish the case within three months.
The court ordered Axact's CEO Shoaib Shaikh and other accused- Chanda Exchange Company's Muhammad Younis and Junaid- to appear before the trial court on March 3.
The Chanda Exchange Company's executives are alleged to have received 170 million rupees through 116 cheques.
Meanwhile, FIA Officials have said that Shaikh was likely to be arrested since he was not on bail, however, the counsel for Shaikh said that the court hadn't ordered their client's arrest.
Moreover, the Axact CEO's legal counsel has requested the court to grant a three-day protective bail.
Pakistani currency saw minor adjustment against global currencies on April 19, 2024. US dollar was being quoted at 277.4 for buying and 280.4 for selling.
Euro comes down to 293 for buying and 296 for selling while British Pound stands at 342.25 for buying, and 345.65 for selling.
UAE Dirham AED was at 75.2 and Saudi Riyal's new rates was at 73.30.
Currency | Symbol | Buying | Selling |
US Dollar | USD | 277.4 | 280.4 |
Euro | EUR | 293 | 296 |
UK Pound Sterling | GBP | 342.25 | 345.65 |
U.A.E Dirham | AED | 75.2 | 75.9 |
Saudi Riyal | SAR | 73.3 | 74.05 |
Australian Dollar | AUD | 181 | 182.8 |
Bahrain Dinar | BHD | 740.09 | 748.09 |
Canadian Dollar | CAD | 201 | 203 |
China Yuan | CNY | 38.44 | 38.84 |
Danish Krone | DKK | 39.69 | 40.09 |
Hong Kong Dollar | HKD | 35.53 | 35.88 |
Indian Rupee | INR | 3.33 | 3.44 |
Japanese Yen | JPY | 1.86 | 1.94 |
Kuwaiti Dinar | KWD | 902.64 | 911.64 |
Malaysian Ringgit | MYR | 58.08 | 58.68 |
New Zealand Dollar | NZD | 164.22 | 166.22 |
Norwegians Krone | NOK | 25.31 | 25.61 |
Omani Riyal | OMR | 722.87 | 730.87 |
Qatari Riyal | QAR | 76.45 | 77.15 |
Singapore Dollar | SGD | 204.5 | 206.5 |
Swedish Korona | SEK | 25.31 | 25.61 |
Swiss Franc | CHF | 305.08 | 307.58 |
Thai Bhat | THB | 7.56 | 7.71 |
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