Real estate tycoon, Malik Riaz is speculated to be indicted by the Supreme Court on charges of contempt, on July 16, Aaj News reported.

A three judge bench comprising of Justice Ejaz Afzal, Justice Mian Shakirullah and Justice Athar Saeed, was hearing the case while Attorney General Irfan Qadir was appointed as the prosecutor for Malik Riaz's show-cause notice on contempt of court.

Riaz, through is lawyer, Advocate Dr Abdul Basit, submitted an unconditional apology for the press conference that he called on June 12.

Malik Riaz was issued a show-cause notice on the very next day for making allegations and stark remarks against the Chief Justice Iftikhar Chaudhry, his family and the Judiciary of Pakistan.

Advocate Dr Abdul Basit also requested the court to allow Malik Riaz to fly to foreign countries because of his health issues that 'cannot be revealed in the court.'

The bench denied Malik Riaz permission to travel abroad for medical reasons and Justice Jan said that that the court will take decision on it after Riaz's indictment and advised the counsel to submit a formal application in this regard.

Earlier Malik Riaz and his counsel has urged the court to continue the proceedings of the court according to the new contempt of court law.