The Islamabad High Court (IHC) Monday cancelled bail of five accused including Mufti Ehsanul Haq and Ghulam Rasool Ayubi involved in billion of rupees Modaraba and Musharika scam. Earlier in February 2015, the IHC had granted bail to Mufti Ehsanul Haq and Ghulam Rsool Ayubi after they submitted affidavits to return substantial amount Rs 8 billion and Rs 3.5 billion respectively to the affectees which they fetched under the pretext of Modaraba and Musharika business.

Appearing before a division bench of Justice Shuakat Aziz Siddiqui and Justice Athar Minallah in the matter, National Accountability Bureau prosecutor Sardar Muzaffar Ahmad requested to cancel the bail of Mufti, Ayubi and others saying they failed to fulfil commitment to pay back the amount. Accepting the NAB prosecutor plea, the court cancelled bail of Mufti and others after which Islamabad Police apprehended them from outside the court room.

Copyright Business Recorder, 2016