2026 P Cr (PLP)

ZAFAR AHMED RAJPUT, J.

By this common order, we intend to dispose of above listed three Crl. Bail Applications, as the same being arisen out of a common FIR bearing No. 06/2025, registered under Sections 409, 420, 468, 471, 109/34, P.P.C. at P.S. FIA, CBC, Karachi, have been heard by us together.

2. Through Crl. Bail Application No. 1846 of 2025, applicant/accused Hyder Ali has sought pre-arrest bail in aforesaid FIR. His earlier application for grant of same relief, filed in Case No 10 of 2025, was dismissed by the Special Court (Offences in Banks) Sindh, Karachi ("Trial Court"), vide order dated 16.07.2025. He was admitted to ad-interim pre-arrest bail by this Court vide order dated 18.07.2025, now he seeks confirmation of the same. While, by means of Crl. Bail Applications Nos. 1864 and 2036 of 2025, applicants/accused Farhan Umair Khan and Farhan Hasan Siddiqui, respectively, seek post-arrest bail in aforesaid FIR. Their earlier applications for same concession, filed in said case, were dismissed by the Trial Court, vide orders dated 10.07.2025.

3. The aforesaid FIR was outcome of Enquiry No. 72/2024 of FIA, CBC, Karachi, made on a written complaint dated 01.07.2024 of complainant Muhammad Usman, Branch Manager (Officiating) IBB, NBP, New Fruit and Vegetable Market Branch, Karachi ("the Branch") against Hyder Ali, Ex-Branch Manager of the Branch and others on the allegations of embezzlement/misappropriation of bank funds to the tune of Rs. 22,093,210/- approximately, through fraudulent pre-mature encashment of TDR issued in favor of Karachi Institute of Biotechnology and Genetic Engineering ("KIBGE"), University of Karachi and encashment of cheques received in Branch from Karachi Water and Sewerage Board ("KW and SB") on account of tax payment.

4. Mr. Amir Nawaz Waraich, learned counsel for applicant Hyder Ali, has contended that the applicant is innocent and he has malafidely been implicated in this case by the bank officials and FIA; that the applicant was performing his duty as Branch Manager and issuance and encashment of TDRs was neither in his domain nor the same was done by him, which is in fact part of the duties of Operation Manager of the Branch; that the applicant's signatures on the banking documents are forged and he is neither beneficiary of alleged embezzled amount nor is related to absconding accused Faiz Hussain; that no reasonable ground exists to believe that the applicant has committed any of the offences charged with; that the alleged offences do not fall within prohibitory clause of section 497, Cr.P.C; and the guilt of the applicant requires further inquiry entitling him for the confirmation of his interim bail.

5. Mr. Saqib Soomro, learned counsel for applicant Farhan Umair Khan, has maintained that the FIR alleges fraudulent premature encashment of TDR issued in favour of KIBGE and diversion of tax proceeds from KW and SB to the personal account of absconding accused Faiz Hussain by explicitly identifying co-accused Hyder Ali as beneficiary accused, who prepared forged documents and executed the fraud by using others' credentials for personal gain; that the allegations against the applicant are based on assumption and presumptions derived from his official capacity as Operation Manager of the Branch, that being Operation Manager, the applicant has no authority to approve and initiate alleged transaction individually; that alleged provisions of P.P.C. do not attract to the applicant, who is confined in judicial custody since 13.06.2025; hence, he is entitled to the post arrest bail.

6. Mr. Ali Akbar Poonawala, learned counsel for applicant Farhan Hasan Siddiqui, has argued that the applicant is behind the bar since 13.06.2025, that there is no allegation of personal gain on applicant; that as per interim charge-sheet, the applicant processed premature encashment of the TDR on the basis of a copy of a request letter, signed by the account-holder; however, it is not alleged that the applicant prepared/submitted a forged request or he had any personal dealing with absconding accused Faiz Hussain or with Sadam Hussain or any financial gain was accrued to him or he had any knowledge of forgery or criminal design; that the role of the applicant is strictly transactional processing and posting of the entries as instructed by the co-accused Hyder Ali/Branch Manager, hence the guilt against him requires further inquiry.

7. On the other hand, Mr. Munawar Ali, learned counsel for the complainant, has opposed these applications by maintaining that the applicant Hyder Ali, former Branch Manager of NBP, has committed criminal breach of trust by fraudulentiy and dishonestly using forged document and thereby he has caused financial loss to NBP; that the said applicant was the incharge of the Branch and other officials of the Branch, including Operation Manager, were performing their respective duties under his supervision, and he is the beneficiary of alleged embezzled amount, as the absconding accused Faiz Hussain transferred Rs. 1,15,00,000/- to his personal account, that applicants Farhan Umair Khan and Farhan Hasan Siddiqui have disregarded banking protocols and stamped the fraudulent transactions, thereby they played instrumental role in facilitating the alleged fraudulent transactions that enabled the embezzlement scheme of accused Hyder Ali; that sufficient evidence is available with prosecution to connect the applicants with the commission of alleged offence; hence, their applications are liable to be dismissed.

8. Mr. Dur Muhammad Shah, learned DAG, has opposed these applications by adopting the arguments of learned counsel for the complainant and added that "criminal breach of trust by banker" can have devastating effects on the society. It erodes public confidence in the financial system, leading to economic instability, decreased investment, and breaks down the trust between financial institutions and individuals. It causes significant financial loss to victim and damages the reputation of the banking profession.

9. Heard, record perused.

10. It appears from the perusal of the record that, on 26.06.2024, Muhammad Naveed Akhtar, Chief Account Officer, KIBGE, emailed to Hanain Khalid, Branch Manager, NBP Gulistan-e-Johar Branch and applicant Hyder Ali, Branch Manager of the Branch, alleging that one TDR of KIBGE amounting to Rs. 10 million was not showing in Bank record; further, the amount of profit paid on previously matured TDR aggregating to Rs.53,615,063/- was less paid by the Bank on 16.06.2024, which was mis-committed by Hyder Ali. Mr. Hanain Khalid escalated the matter to RE-Ops through email, dated 27.06.2024. Later, an Internal Enquiry was conducted by the Regional Team, that identified 1st fraudulent transaction regarding one of the TDRs, amounting to Rs.10 million, which was prematurely encashed in absence of original TDR. As per the Branch record, copy of TDR along with copy of request letter by the account holder was available; however, the same was based on a fake and bogus request letter. The funds of the encashed TDR were directly transferred through RTGS in favor of absconding accused Faiz Hussain, who maintained his account with Habib Metropolitan Bank (HMB), Malir City Branch, Karachi and profit accrued thereon Le. Rs. 277,750.96/- was credited in KIBGE linked account by Farhan Hassan Siddiqui through User ID 15040 on the instructions of Hyder Ali. The 2nd fraudulent transaction was identified on 10.01.2024. The Branch received a clearing amount of Rs.12,093,210/-, however, no record was found available with the Branch. It was transpired that two cheques on account of tax payment from KW and SB were deposited in the Branch for clearance but the entries of clearing cheques were not recorded in the clearing register. The amount realized in clearing was credited to NBP General Account, wherefrom it was required to transfer to FBR OTC Collection Account. However, instead of crediting to FBR OTC Collection Account, the amount was fraudulently transferred through RTGS in the name of absconding accused Faiz Hussain in his account of HMB. The transaction was executed by the applicant Hyder Ali through his User ID 7032.

11. It further appears that KIBGE was maintaining its bank account at NBP Gulistan-e-Johar Branch, Karachi with two authorized signatories, Associate Professors, namely, (i) Ms. Sadia Galani and (ii) Ms. Afsheen Aman. After opening of aforesaid bank account, KIBGE used to invest its amounts at NBP in TDRs, including the TDR/Certificate No. 0034921, dated 28.12.2023, amounting to Rs. 10,000,000, which was duly signed by applicants Farhan Umair and Hyder Ali and encashed pre-maturely on 06.04.2024. Thereafter, applicant Hyder Ali fraudulently and in deceitful manners prepared and submitted a request letter, dated 28.03.2024, by faking and forging signatures of (1) Arshad Ali Abbasi and (2) Ms. Sadia Galani, addressed to the Branch Manager of the Branch requesting for premature encashment of the aforesaid TDR. The said fake/forged request letter was processed and voucher was prepared by the applicant Farhan Umair, which was supervised by applicant Hyder Ali. After premature encashment of the aforesaid TDR, the proceeds of the crime was transferred into account of absconding accused Faiz Hussain (friend of applicant Haider Ali) and the profit amount PKR 277,750.96/- was credited to KIBGE account. Similarly, applicant Hyder Ali also received the instruments issued by KW and SB on account of tax collection, but he instead of crediting to FBR OTC Collection Account, siphoned out the same through various customer accounts.

12. It, prima facie, appears from the record that applicant Hyder Ali by abusing his branch managerial position fraudulently and deceitfully prepared and issued fake request letter, dated 28.03.2024; encashed prematurely a TDR of KIBGE; made encashment of cheques received in Branch from KW and SB on account of tax payment and siphoned out the same by various internal/customer accounts, which acts of the said applicant, inter alia, fall within the ambit of "criminal breach of trust by banker", "forgery for the purpose of cheating" and "using as genuine a forged document which is known to be forged", punishable under sections 409/468/471, P.P.C. He appears to be the beneficiary of alleged crime proceeds in collusion with his friend, absconding accused Faiz Hussain. The learned counsel for the applicant Hyder Ali has not been able to point out any special feature of the case entitling him to grant of extra ordinary concession of pre-arrest bail. It is now settled principal of law that in order to justify the grant of anticipatory bail, the accused is required to show that he apprehends his arrest on account of ulterior motives. One of the main considerations for grant of bail is whether the prosecution is motivated by malice so as to cause irreparable injury to citizen's reputation and liberty. The accused approaching the court of law for grant of anticipatory bail is required to show that he is falsely implicated for extraneous consideration and ulterior motives are behind his apprehended arrest. The accused person becomes entitled for this concession on fulfillment of these conditions. Learned counsel has remained unable to persuade us to hold that applicant Hyder Ali had no concern with the alleged offence. Hence, in the instant case the pre-requisites for such concession i.e. malice and ulterior motives either on the part of the complainant or the police are conspicuously missing.

13. The accusation against arrested applicant Farhan Umair Khan (applicant in Crl. Bail Application No. 1864 of 2025) is that he issued Banker's Cheques from KIBGE account without formal customer request. Funds of that Banker Cheque were used for issuance of TDR. He processed the TDR issuance request with single signature of the authorized signatory Ms. Sadia Galani instead of joint signatures as per instruction of account opening documents. The TDR certificate was signed by applicants Hyder Ali and Farhan Umair Khan and the latter posted entry in system. He also signed on various dates on the back of the cheques. However, as per 161 Cr.P.C statement of PW Shahid Abbasi, Investigation Executive-FID-A and IG (Audit and Inspection Group) NBP, his computer system/e-mail login credentials were used by Hyder Ali. Hence, the guilt of applicant Farhan Umair Khan requires further inquiry as envisaged under subsection (2) of section 497 Cr.P.C.

14. So far, the accusation against the arrested applicant Farhan Hassan Siddiqi (applicant in Crl. Bail Application No. 2036 of 2025) is concerned, it is alleged that he processed premature encashment without collecting/receiving original TDR certificate from the customer and for the purpose of encashment, a debit voucher was prepared jointly by applicant Hyder Ali and him and they signed it. After encashment, the principal amount i.e. Rs. 10 million was remitted to absconding accused Faiz Hussain's HMB account via RTGS, while profit amount i.e. Rs. 277,750.96 was credited to KIBGE account. The RBV (No.000495) for RTGS was jointly signed by the applicant Hyder Ali and him; so also, entries in system were posted by him. He also transferred the funds received in the account of Saddam Hussain. However, as per 161 Cr.P.C statement of PW Shahid Abbasi, Investigation Executive-FID-A and IG, NBP, he acted as per the instructions of Hyder Ali. His mother was admitted in hospital in March 2024 and taking advantage of this situation, Hyder Ali obtained his system ID and password to process clearing entries. Hence, the guilt of applicant Farhan Hasan Siddiqui also requires further inquiry.

15. From the tentative assessment of the evidence on record, it appears that the prosecution has sufficient material against the applicant Hyder Ali to connect him with the commission of alleged offence carrying punishment of imprisonment for life, or imprisonment for ten years. No case for granting bail to him on the ground of further inquiry has been made out. Every hypothetical question which could be imagined would not make it a case of further enquiry simply for the reason that it could be answered by the Trial Court subsequently after evaluation of evidence. His claim with regard to false implication is an issue that cannot be attended without going beyond the scope of tentative assessment, an attempt prohibited by law; hence, Cr. Bail Application No. 1846 of 2025 filed by him is dismissed, accordingly, by recalling interim bail order dated 18.07.2025.

16. So far, the bail pleas of applicants Farhan Umair Khan and Farhan Hasan Siddiqui are concerned, we have found the case against them as one of further inquiry as envisaged under sub-section (2) of Section 497, Cr.P.C. Consequently, we allow their Crl. Bail Applications Nos. 1864 and 2036 of 2025 by admitting them to post-arrest bail subject to their furnishing solvent surety in the sum of Rs.10,00,000/- (Rupees Ten Lac Only), each and P.R. Bonds for like amount to the satisfaction of the trial Court.

17. Needless to mention here that the observations made hereinabove are tentative in nature and would not influence the trial Court while deciding the case of the applicants/accused on merits. In case applicants/accused Farhan Umair Khan and/or Farhan Hasan Siddiqui in any manner try to misuse the concession of bail, it would be open for the Trial Court to cancel their bail after issuing them the requisite notice. JK/H-16/Sindh Order accordingly.