SHC Rejected Protective Bail Application of Axact’s CEO

Karachi: Sindh High Court (SHC) has rejected protective bail application of CEO of leading Software Company OF Pakistan Axact. According to the sources, the division bench of SHC comprising Justice Ahmed Ali Sheikh and Justice Abdul Malik heard the protective bail application of Axact’s CEO Shoaib Shaikh. In application, concerned was expressed regarding arrest of Shoaib Shaikh but court rejected this request while saying that it is premature.

Earlier Federal Investigation Agency(FIA) told to the court that investigation regarding fraud is under process against Axact Company but no case has been registered against Axact so far. However the matter will be processed in accordance with the law after solid evidence against the Company, FIA told. On the other hand, the Interior Ministry and FIA has written letter to US FIA regarding fake degree scandal of Axact. According to an official of Interior Minsitry, a letter have sent to the Foreign Ministry which would be sent through US embassy to US State Department.

It is to remember that Interior Minister Chaudhry Nisar announced on Saturday to contact with the FBI and Interpol in order to investigate this matter. Although Chaudhry Nisar also ordered an investigation against that company after which FIA became active in this regard.