Sindh High Court cancels Farrukh Amin Godil's protective bail in Unity Foods case
FIA cleared to take key accused into custody as investigation into PKR 44 billion fraud continues
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The Sindh High Court has cancelled the protective bail granted to Unity Foods Limited case suspect Farrukh Amin Godil and allowed the Federal Investigation Agency (FIA) to take him into custody for questioning and investigation, according to the court order.
The court also suspended an August 30 order by a judicial magistrate that had directed Godil's release from custody.
According to the court order, judicial protection granted to Godil in connection with another inquiry does not extend to the current First Information Report (FIR).
The Additional Attorney General told the court that Godil was a key accused in the current FIR, which involves alleged corporate crimes and approximately PKR 44 billion in foreign investment.
The case emerged following a complaint by Wilmar Pakistan, a major foreign investor in Unity Foods. After an initial inquiry, the Securities and Exchange Commission of Pakistan (SECP) referred records concerning possible criminal offenses to the FIA for further investigation.
The FIA's Corporate Crime Circle in Karachi registered the case on August 29.
Five Unity Foods officials, including Godil, have also been placed on Pakistan's Exit Control List, restricting their ability to leave the country. Besides Godil, the list includes Jalees Edhi, Safdar Sajjad, Abdul Majeed Ghaziani and Amir Shehzad.
The court has issued a notice to Godil for September 30.
Foreign investment under investigation
The investigation centers on alleged financial and corporate irregularities involving around PKR 44 billion in funds and foreign investment in Unity Foods.
Singapore-based investor Wilmar invested about USD 250 million in the company. Following Wilmar's complaint, the SECP initiated investigations into six different aspects of the matter and began legal proceedings.
The regulator subsequently referred evidence of suspected criminal offenses to the FIA, which registered the FIR and is continuing its investigation.
The court's latest order clears the way for the FIA to take Godil into custody in connection with the current case.
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