ISLAMABAD: National Bank of Pakistan (NBP) President Saeed Ahmed on Wednesday filed an application in the accountability court of Islamabad, seeking his acquittal in the reference related to the assets of former finance minister Ishaq Dar.

Mr Ahmed has been nominated as a co-accused in the reference and has been charged with opening up bank accounts allegedly used for money laundering by Mr Dar.

The NBP president, through his counsel Hashmat Habib, filed the application under Section 265-K of the Criminal Procedure Code, which allows a judge to acquit an accused at any stage of trial.

The application stated that the prosecution had levelled three allegations under different sub-sectionsof Section9 of the National Accountability Ordinance 1999, which was related to corruption, corrupt practices, abatement and misuse of authority.

It pointed out that the court had dropped the charge of corruption against Mr Ahmed, leading to the `legal effect that the charge on other accounts has becomeredundant`.

The application cited the Supreme Court`s verdict in the Hudaibia Paper Mills case in which the court turned down the National Accountability Bureau`s request for reviving the reference against the Sharif family. It pointed out that in the Hudaibia Mills case the superior courts had dealt with the identical matter of opening of bank accounts and transaction of money and had absolved the accused persons of the charges.

The application stated: `The reference also does not mention the ingredients that constitute the aforesaid offences or provide the example of misuse of authority.

It said that the allegations levelled against the NBP president pertaining to misuse of authority could not be substantiated by anywitness that the prosecution had produced so far, adding: `Thus this is a case fit to be discharged and the applicant is entitled to an acquittal.

It said that even if the prosecution`s version was taken as the gospel truth, there was no probability of conviction in this matter and the case against Mr Ahmed would amount to wastage of the court`s precious time and it was also causing continuous agony to the applicant which was a violation of Article 10S of the Constitution.

The applicant requested the court to acquit him in the reference to secure the end of justice.

Accountability court judge Moh-ammad Bashir issued a notice to NAB, seeking its response to the matter.

The NBP president had moved the court with a similar application in March, claiming that he had been nominated as a coaccused in the reference on the basis of the assumption of as per the understanding of NAB aiding and abetting the offence.

In the reference, the bureau claims that during the course of investigation, it was revealed that Mr Ahmed was one of the directors of Hajveri Modaraba Management Company and 7,000 shares in Hajveri Holding (Pvt) Limited were also transferred in his favour from the wife of principal accused (Ishaq Dar).

The reference alleges that seven bank accounts were opened in the name of Mr Ahmed which, as per an investigation conducted by NAB, were prima facie used for the benefit of Mr Dar and his companies.

According to NAB, Mr Ahmed had intentionally allowed the former finance minister to open/ operate/use bank accounts in his name to protect his ill-gotten money.