LAHORE: District and Sessions Judge Mujahid Mustaqim on Friday acquitted PML-Q leader Moonis Elahi in the National Insurance Corporation Limited (NICL) scam.

The court passed the order on an acquittal application filed by Moonis Elahi.

On October 15, the court reserved its verdict on the application after hearing the arguments of defence lawyers and the prosecution which was announced today in open court.

Earlier, Federal Investigation Agency prosecutors submitting their written arguments informed the court that during the investigation of the NICL scam, it was transpired that an amount of Rs 320 million was transferred to two bogus accounts which was received by Moonis Elahi.

They submitted that cases were registered and accordingly challan was submitted after recording the statement of the witnesses in this regard.

However, the defence lawyers contended that Moonis was innocent and involved in the case with malafide intentions.

They submitted that the name of Moonis was not included in the FIR and all witnesses against Moonis had retracted from their statements, therefore, he should be acquitted.

Today, Moonis Elahi was presented in the court besides three other accused in the case.

A large number of party workers and few MPAs were also present in the court and they chanted slogans in favour of Moonis.

Moonis Elahi was accused of receiving Rs 320 million in the NICL scam through bogus accounts. His Manager Abdul Maalick, Rizwan Bhatti and Khalil Ahmad were also indicted in the case.

Lahore High Court Chief Justice Ijaz Ahmad Chaudhry had transferred the NICL case to the D&SJ, Lahore, after the judge of special court for banking offence, Malik Abdul Rasheed, had refused to proceed with the case.