KARACHI: The Sindh High Court (SHC) has granted protective bail to the director of Paramount Spinning Mills Limited who has been booked for his alleged involvement in fraudulently evading duties worth millions of rupees.
The court approved bail for Sheikh Riaz Ahmed with surety of Rs 200,000 while directing the applicant to surrender before the trial court.
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According to the prosecution, M/s Paramount spinning Mills Limited imported 50 consignments and subsequently filed general declarations for their clearance through customs clearing agents. M/s Aliz International filed 34 GDs worth Rs 13, 363, 573 with duty estimated at Rs 4,492,494. Whereas M/s Hi-Ness Enterprises filed 10 GDs valued at Rs 4,148,628 with duty amounting to Rs 1,333, 993 and 6 GDs worth Rs 2,841,803 with duty of Rs 927,674 were filed by M/s Union Enterprises.
All the consignments were cleared without payment of duties on indemnity bond and post dated cheques. Later it transpired that manufacturing unit of M/s Paramount Spinning Mills, Lahore is closed for over a year and the importers had failed to fulfill legal requirements. The post dated chaeques were sent to the banks but they were dishonored.
Afterwards an FIR was registered against M/s Paramount Spinning Mills’ directors Abdul Shakoor, Muhammad Abdullah, Naseer Ahmed, Nusrat R Siddiqui, Sheikh Riaz Ahmed Tanweer Ahmed Ejaz Ali, and Ali Afzal Shaikh, and the proprietors of M/s Aliz International and M/s Hi-Ness Enterprises and M/s Union Enterprises for fraudulently evading duties under the sections of the Customs Act 1969.
Applicant’s counsel submitted that the Special Customs and Taxation Court had issued non-bailable warrants for the arrest of applicant who was shown in charge-sheet as absconding accused. He said his client was ready to surrender before the court and face charges. He, therefore, requested it to grant protective bail so that he could appear before the court.
