In a major relief to Pakistan Peoples Party (PPP) Co-Chairperson and former president Asif Ali Zardari, an accountability court on Wednesday returned the Park Lane reference to the National Accountability Bureau (NAB).
Accountability court judge Rana Nasir Javed heard the arguments before reserving his judgment.
The judge declared that the reference exceeded the court's jurisdiction.
Read Reference against Nawaz, Zardari sent back to NAB
In the mega money laundering charges, the former president, his sister and several of their business associates were being probed as part of a 2015 case involving fake accounts and fictitious transactions.
The main reference in the Park Lane case accused Zardari of influencing relevant authorities during his tenure as the president – from 2008 to 2013 – to obtain loans for his front companies.
The former president allegedly received a loan of Rs1.5 billion released for Parthenon Private Limited “with ill intention”, and the money was later transferred for his personal use through fake bank accounts.
NAB accused the former president of causing the national exchequer a loss of Rs3.77 billion.
The anti-graft body later filed a supplementary reference against Zardari in the Park Lane case, accusing him of using fake documents to acquire a bank loan for a dummy corporation.