SHC cancels bail in Rs44bn Unity Foods case, allows FIA custody

MG News September 11, 2026 (MLN): The Sindh High Court has cancelled the protective bail of an accused in the Unity Foods case and allowed the Federal Investigation Agency (FIA) to take the accused into custody for questioning and investigation. The court also suspended the August 30 order of a judicial magistrate directing the accused's release from custody. According to the court order, judicial protection granted to the accused in another inquiry does not extend to the current FIR. The Additional Attorney General told the court that the accused is a key suspect in the current FIR, which involves alleged corporate crimes and foreign investment worth Rs44 billion. The case relates to alleged financial and corporate irregularities at Unity Foods and surfaced following a complaint by the company's major foreign investor. Following an initial investigation, the Securities and Exchange Commission of Pakistan (SECP) referred records concerning possible criminal offences to the FIA. The FIA's Corporate Crime Circle Karachi registered the case on August 29. The names of five Unity Foods officials have also been placed on the Exit Control List (ECL). The court has issued notices for September 30. The investigation concerns alleged financial and corporate irregularities involving around Rs44 billion in funds and foreign investment. The foreign investor had invested around $250m in the company. Following the complaint, the SECP initiated investigations into six different aspects of the matter and referred evidence of possible criminal offences to the FIA, which subsequently registered the case and launched an investigation. Copyright Mettis Link News