SAIF UR REHMAN KHAN vs CHAIRMAN, NATIONAL ACCOUNTABILITY BUREAU, NAB HEADQUARTER, ISLAMABAD Ss — 2022 CLD 413 SUPREME-COURT

Case information

Citation: 2022 CLD 413 SUPREME-COURT
Court: Supreme Court of Pakistan
Year: 2022
Reporter: CLD
Parties: SAIF UR REHMAN KHAN vs CHAIRMAN, NATIONAL ACCOUNTABILITY BUREAU, NAB HEADQUARTER, ISLAMABAD Ss
Subject matter: Criminal
Provisions referred to: S. 482; S. 9; Pakistan Act (XLII of 1997); National Accountability Ordinance (XVIII of 1999); Penal Code (XLV of 1860); Pakistan Act; Companies Act; National Accountability Ordinance; SECP Act; NAB Ordinance

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

SAIF UR REHMAN KHAN VS CHAIRMAN, NATIONAL ACCOUNTABILITY BUREAU, NAB HEADQUARTER, ISLAMABAD Ss. 84, 264(3), 482, 496(1)(d) & 500---Securities and Exchange Commission of Pakistan Act (XLII of 1997), Ss. 37 & 41B---National Accountability Ordinance (XVIII of 1999), Ss. 9(a)(ix) & 9(a)(x)---Penal Code (XLV of 1860), Ss. 405 & 415---Defrauding and cheating the public at large---Inducing and luring members of the public to invest money in companies by way of a 'Ponzi/pyramid scheme'---Bar contained in Ss. 37 & 41B of the Securities and Exchange Commission of Pakistan Act, 1997 and S. 482 of the Companies Act, 2017---Scope---Whether National Accountability Bureau (NAB) could inquire into and investigate the commission of the alleged offences without a reference from the Securities and Exchange Commission of Pakistan ('the SECP')---Held, that in the present case there was no bar for the NAB to inquire into and investigate the commission of alleged offence under S. 9 of the National Accountability Ordinance, 1999 by the petitioner and to proceed further against him under the said Ordinance---Bar contained in Ss. 37 & 41B of the Securities and Exchange Commission of Pakistan Act, 1997 ('the SECP Act') and S. 482 of the Companies Act, 2017 ('the Companies Act') were not attracted to the present matter---Question of cheating the public at large and of breach of trust did not fall within the domain of Companies Act or SECP Act, but squarely falls under the NAB Ordinance---Therefore, the SECP sending a reference to the NAB or the NAB taking cognizance on the basis of the reference had little significance in the facts and circumstances of the present case, when NAB could have taken cognizance on their own---Proceedings conducted by the NAB, in the present matter, against the petitioner were not without lawful authority.

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