The Supreme Court (SC) on Wednesday rejected Bahria Town’s request for an immediate stay order against the auction of its properties, allowing the National Accountability Bureau (NAB) to continue with the high-profile sell-off.
According to the 24NewsHD TV channel, a three-member bench headed by Justice Aminuddin Khan heard the case, during which Justice Naeem Akhtar Afghan questioned the hearing of miscellaneous applications instead of the main case.
Justice Afghan remarked that without hearing the central case, it would be inappropriate to proceed solely with miscellaneous petitions, also noting that reference copies were not attached before the bench.
Bahria Town’s counsel, Farooq H Naek, informed the court that he was only made aware of the case’s scheduling at midnight. He requested time to submit all relevant documents, which the court directed him to file by the next day.
The SC bench ruled that any decision on a stay order would be made after hearing both sides, not unilaterally, and adjourned the hearing until August 13.
Meanwhile, NAB has already commenced the auction of Malik Riaz’s prime properties following approval from the Islamabad High Court (IHC) earlier this week.
According to NAB’s press release, Bahria Town Corporate Office II, Plot No 7-D, Park Road, Phase II, Rawalpindi, fetched Rs880.6 million, while Rubaish Marquee & Lawn near Bahria Garden City Golf Course, Islamabad, sold for Rs508.3 million.
The two sales alone have generated over Rs1.3 billion, with the figure expected to climb as more properties go under the hammer.
On August 6, Bahria Town moved the SC against the Islamabad High Court’s (IHC) verdict in which it had ruled that the auction of the housing society properties by the National Accountability Bureau (NAB) was legal and in the public interest.
In an appeal filed in the apex court on behalf of Bahria Town, Farooq H Naek prayed to the court to order the stoppage of an auction of properties until the appeal was decided.
Reporter: Amanat Gishkori