A session court in Karach on Thursday has rejected bail plea of Shoaib Sheikh, Chief Executive Officer of notorious Axact Company.
According to details, a session court in Karachi resumed hearing of the case and rejected bail plea of arrested Axact CEO. Sheikh will be indicted in fake degree case on March-3.
The investigation officer was not present during the hearing.
When the hearing began, the government lawyer stated that Sheikh has been arrested on orders of Sindh High Court (SHC) and that the session court is due to serve verdict in the case within three months, thus implying that there was no need to be in haste pertaining to granting bail to Shoaib Sheikh.
On the other hand, accused lawyer Rizwan Abbasi failed to register an appearance before the session court upon which judge rejected the plea.
Court adjourned the hearing till March-3.
Earlier, Federal Investigation Agency (FIA) on Feb-26 arrested Axact CEO Shoaib Sheikh after Sindh High Court (SHC) approved appeal against his acquittal by a district and sessions court in a money laundering case.
