Lahore, Apr 14 (IANS): The Lahore High Court (LHC) on Wednesday granted bail to PML-N president Shehbaz Sharif in an assets beyond means case, Geo News reported.

The PML-N president had approached the High Court against his arrest by the National Accountability Bureau (NAB) in the corruption reference also involving his family members.

Shehbaz was granted bail against two surety bonds of Rs 5 million each. The LHC had earlier reserved its verdict after hearing arguments from both parties.

Shehbaz was taken into custody on September 28 from the high court premises after his bail application was rejected.

During Wednesday's hearing, the NAB prosecutor argued that Shehbaz had no sources of income other than the Ramzan Sugar Mills and whatever he has now was acquired through TTs sent from abroad.

To this, Shehbaz's counsel said if any witness of the NAB, out of the 110 witnesses, testifies against his client they would withdraw the bail petition.

The court asked the NAB prosecutor why NAB was investigating the case if it falls under the jurisdiction of the Federal Board of Revenue.

According to NAB, the PML-N leader has acquired assets worth Rs 7,328 million which are disproportionate to his known sources of income.

The reference states that the assets are held under the name of his close family members and benamidars who had no sources of income and added that the suspects committed offences of corruption and corrupt practices as envisaged under the provisions of the National Accountability Ordinance 1999.

In December 2019, NAB had issued orders to freeze 23 properties belonging to the former Punjab chief minister and his sons Hamza and Suleman Shehbaz over the allegation that they were acquired through corrupt means.

According to the accountability bureau, an investigation against Shehbaz, Hamza, Suleman and others for the offence of "corruption and corrupt practices" had revealed that Shehbaz had acquired properties in the name of his wives Nusrat Shahbaz Sharif and Tehmina Durrani.