ISLAMABAD: The Supreme court on Thursday announced the final verdict in the Panamagate case against Prime Minister Nawaz Sharif,  Aaj News reported. 

Supreme Court has rejected PTI's plea to disqualify Prime Minister Nawaz Sharif in Panama Papers case.

SC directed  constitution of a Joint Investigation Team (JIT) to thoroughly investigate and submit its report within 60 days over the Panama Papers allegations.

Justice Asif Saeed Khan Khosa, who headed the five-judge bench, annouced the reserved judgment over a set of petitions moved by Pakistan Tehreek-i-Insaf, Jammat-i-Islami and Awami Muslim League.

Justice Khosa read out the majority decision in which he himself and Justice Gulzar Ahmed differed with the other three judges of the apex court.

The investigating team would submit its report to the bench of the Supreme Court every two weeks.

The team will have representatives from Intelligence Bureau, Military Intelligence, Federal Investigation Agency and National Accountability Bureau.

According to the reports, the verdict comprises 540 pages and includes dissenting notes of Justice Asif Saeed Khosa and Justic Gulzar Ahmad. The judgment has been written by Justice Aijaz Afzal.

Justice Asif Saeed Khosa appreciated all parties to the case for displaying patience during hearing of the case.

The verdict in Panamagate case was reserved by the Apex court on 23rd February this year.

Panamagate Live Updates

2: 40 pm: Hassan and Hussain Nawaz to be presented before JIT: SC announces verdict in Panama Case. Representatives of Security Exchange Commission and ISI to be included in JIT.

SC orders to finalize the names for JIT in seven days to investigate in Panama case.

SC orders formation of Joint Investigation Team (JIT) in Panama Case.

2: 35 pm: Justice Khosa asserted that the Federal Investigation Agency and National Accountability Bureau were unsuccessful in playing their role.

A letter from a Qatari royal submitted to court as evidence by Sharif's lawyers was dismissed by the bench.

2: 30 pm: According to the reports, the final verdict is split 3-2 among the bench, with two dissenting notes in the judgement by Justice Khosa and Justice Gulzar. Justice Ejaz authored the 540-page verdict.

2: 20 pm: Justice Asif Saeed Khosa has started announcing the final verdict in the Panamagate case against Prime Minister Nawaz Sharif and his family at Courtroom 1 at the apex court.

2: 10 pm: Addressing the media outside the SC, Imran Khan said he is optimistic and enthusiastic about the Panamagate verdict. “This is a situation similar to the 1992 World Cup,” Imran said “Today is a day when Pakistan will win.”

1 : 55 pm: The verdict will be announced in Courtroom 1 and only those possessing security clearance passes were allowed in.

1: 50 pm: Around 1,500 police commandoes and riot forces have been deployed around the court.

1 : 40 pm : A ring of steel was placed around the Supreme Court Thursday ahead of a ruling on corruption allegations that could see the prime minister ousted from power after the Panama Papers linked his family to offshore businesses.

The controversy of Panamagate erupted with the publication of the so-called Panama Papers last year, 11.5 million secret documents from Panamanian law firm Mossack Fonseca which documented the offshore dealings of many of the world’s rich and powerful.

Among the global elite implicated were three of Sharif’s four children — his daughter and presumptive political heir Maryam, and his sons Hasan and Hussain.

At the heart of the matter is the legitimacy of the funds used by the Sharif family to purchase several high-end London properties via offshore companies.

The government insists the wealth was acquired legally through family businesses in Pakistan and the Gulf.

-AFP/APP/AAJ NEWS