LAHORE – The Lahore High Court on Thursday declared a joint investigationteam (JIT) formed to probe sugar mills in the light of the Sugar InquiryCommission null and void.
A bench issued the order while hearing a petition filed by Al-Arabia SugarMills of PML-N President Shahbaz Sharif’s family and the Faruki Pulp Millsof Jahangir Tareen, challenging inquiries by the Federal InvestigationAgency (FIA).
The high court also declared the notices issued by the Securities andExchange Commission of Pakistan (SECP) to the sugar mills.
In short order, the bench remarked that the SECP had failed to comply withlegal jurisdiction. It added that an elaboration about FIA’s jurisdictionwill be given in a detailed verdict.
Read Top Stories
In the petitions, the sugar mills have nominated the Securities andExchange Commission of Pakistan (SECP), FIA Director General Wajid Zia, theMinistry of Interior and Adviser to the Prime Minister on AccountabilityMirza Shahzad Akbar as respondents.
The petitioners said that the federal cabinet ordered authorities to launcha crackdown against sugar mills. It argued that the federal cabinet has nopower to declare some culprit.
