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August 23, 2019
Latest Pakistan Top Stories

SC accepts Bahria Town’s offer of Rs460bn for dropping cases against it

ISLAMABAD: The Supreme Court on Thursday ordered the conclusion of all legal proceedings against Bahria Town Karachi after accepting the Rs460 billion offer made by the real estate develop earlier.

The Supreme Court allowed the real estate developers to continue work in its Karachi project.

The court restrained the National Accountability Bureau (NAB) from filing any references against Bahria Town. The company was allowed to sell their plots in Bahria Town Karachi.

According to the order, NAB will have to seek approval from the top court before pursuing any case against Bahria Town or the Sindh government.

The apex court accepted Bahria Town plea allow it to pay the amount in instalments over the next seven years.

“Bahria Town Karachi will pay the first instalment of Rs25 billion by August 27,” the court said.

Sindh’s advocate general suggested during the hearing that the funds should be deposited by Bahria Town into the account of the provincial government. But the bench ruled that the court would decide where the money should be deposited.