The Lahore High Court quashed notices despatched by the JIT, FIA and SECP to the Sharif household's Al Arabiya Sugar Mills and Jahangir Tareen's JDW Sugar Mills.
A two-member bench comprising Justice Shahid Karim and Justice Sajid Mehmood Sethi, whereas delivering a protected verdict, partially accepted the petitions of Sugar Mills.
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The court docket dominated that the SECP didn’t play its position in accordance with the legislation. The authority of the IA might be defined in an in depth choice.
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Earlier this yr, there was a sudden rise in sugar costs and shortages within the nation. The federal authorities had on March 16 constituted a three-member high-level fee of inquiry to seek out out the explanations. The Federal Investigation Agency's (FIA) investigation report on the Chinese disaster revealed that the most important beneficiaries of the Chinese disaster within the nation had been Jahangir Tareen, the brother of Federal Minister Khusro Bakhtiar and Monis Elahi's corporations.
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The petitioners had taken the place that Farooqi Pulp Mills and Al-Arabiya Sugar Mills have been falsely accused of company fraud. The Federal Cabinet has illegally ordered an inquiry towards Farooqi Pulp Mills and Al-Arabiya Sugar Mills. Therefore, the court docket ought to declare the JIT discover of summons from Al-Arabiya Sugar Mills unlawful whereas annulment of the orders of inquiry of the federal authorities towards Al-Arabiya Sugar Mills and Farooqi Pulp Mills. To be prevented from doing so.