Latest news with #Anti-MoneyLaunderingAct2010
Express Tribune
2 hours ago
- Politics
- Express Tribune
Show-cause to IO in Alvi case
The Sindh High Court's (SHC) constitutional bench on Monday issued a show-cause notice to the investigating officer (IO) for failing to submit a response in a case regarding the freezing of former president Dr Arif Alvi's bank accounts. A constitutional bench, headed by Justice Muhammad Karim Khan Agha, expressed displeasure over the IO's repeated absence and directed the officer to appear at the next hearing on June 25 and explain the delay. The court adjourned proceedings until June 25, issuing a show-cause notice for non-compliance. The bench was hearing a petition filed against the freezing of bank accounts belonging to the former president. At the previous hearing, the court had allowed the withdrawal of up to Rs1 million from the frozen account for meeting daily expenses. Representing Dr Alvi, Barrister Ali Tahir argued that the bank accounts of the former president, his wife and their children had all been frozen. "Based on an inquiry, the FIA froze the entire family's bank accounts," Tahir said, adding that the action had severely impacted their ability to meet day-to-day expenses. He further informed the court that the family had learned of an ongoing inquiry into alleged money laundering, but had not been provided any formal documentation regarding the case. "These inquiries appear to be politically motivated," the counsel said. "The former president is being punished for his political affiliations." Barrister Ali Tahir also told the court that the National Cyber Crime Investigation Agency (NCCIA) had issued undated letters to private banks ordering the freeze under Section 25 of the Anti-Money Laundering Act 2010, and Section 5 of the FIA Act 1974.
Express Tribune
10 hours ago
- Business
- Express Tribune
SHC issues notice to IO over failure to respond in petition on Alvi account freeze
Pakistan Tehreek-e-Insaf (PTI) National Assembly Member Arif Alvi tabled the bill in the National Assembly last year seeking incorporation of Section 89-A PHOTO: PPI/FILE Listen to article The Sindh High Court (SHC) issued on Monday a show-cause notice to the inquiry officer (IO) for failing to respond to a petition filed by former president Dr Arif Alvi challenging the freezing of his and his family's bank accounts. The court observed that the IO had neither filed a reply nor appeared during proceedings. A constitutional bench, headed by Justice Muhammad Karim Khan Agha, directed the officer to appear at the next hearing on June 25 and explain the delay. At a previous hearing, the court had allowed Dr Alvi to withdraw up to Rs1 million from one of the frozen accounts for essential expenses. Other accounts belonging to him, his wife Samina Alvi, and son Awab, remain blocked. Barrister Ali Tahir, counsel for Dr Alvi, told the court that the National Cyber Crime Investigation Agency (NCCIA) had issued undated letters to private banks ordering the freeze under Section 25 of the Anti-Money Laundering Act 2010, and Section 5 of the FIA Act 1974. Read: Alvi allowed to withdraw up to Rs1m The petition argues that the freeze was politically motivated and lacked due legal process. The family alleges the account restrictions have placed them under financial strain. Last month, SHC had issued notices to the FIA's National Cyber Crime Wing and banks on a petition challenging the freezing bank accounts of Arif Alvi and his family. During the hearing, Barrister Ali Tahir, informed the court that the blanket freezing of the accounts of Dr Alvi and his family has caused an adverse impact leaving them unable to cover their daily expenses. The court, while hearing the matter, noted that notices would be sent to all relevant parties and their responses would be sought. In a brief exchange, the bench remarked that the counsel must have received a fee for representing the case. To which, Barrister Tahir clarified that he was handling the matter pro bono.
