ISLAMABAD – A special audit has identified irregularities worth Rs 51,504,835 by the ex-managing committee in connivance with the developer in the development expenditure and purchase of land of the Senate (Sectt) Employees Cooperative Housing Society Islamabad. According to the audit report, a copy of which is available with Pakistan Today, the development contractor M/s Raja Ishtiaq Associates was found involved in the financial irregularities worth of Rs 50,732,217. According to the audit, an amount of Rs 7,72,618 was also recoverable from another landlord. The new managing committee of the society had asked in November 2010 to the Circle Registrar Cooperative Societies ICT to hold special audit of the accounts of the society after complaints of embezzlement.
The audit has proposed to affect recovery an amount of Rs 50,732,217 from M/s Raja Ishtiaq Associates under Section 50-A of Cooperative Societies Act 1925 along with the accumulative mark up per prevailing interest rate in banks. It further said that an amount of Rs 7,72,618 was also recoverable from another landlord. The audit has pointed out many irregularities and held that the ex-managing committee is equally liable for the said loss suffered by the members. The Circle Registrar has advised the managing committee of the society to take necessary action against the contractor M/s Raja Ishtiaq Associates and ex-managing committee as per recommendations of the auditor in accordance with the law.
When contacted, President Senate (Sectt) Employees Cooperative Housing Society Dildar Muhammad Fani told Pakistan Today that the new managing committee has initiated process for the recovery of said amount.
He said that some two weeks back, he had written separate letters to the previous managing committee chairman, Raja Kamal, the contractor M/s Raja Ishtiaq Associates and the landlord for the recovery of the said amount. However, he added, neither of them had responded. He said court notices will be sent to them if they do not respond. It is to mention here that there are around 400 member MPs of the society have suffered a lot because of continued financial irregularities by the ex-managing committees and lack of development work on the site.
Please can you inform the members that when the development in Senate Housing society will start , because up till now nothing is clear for us.
Tariq Siraj Saheb,
Did you receive any reply from the society?
Nothing will happen in housing society for at least next 20-30 years. Great example of land fraud. Office bearers of the society will keep changing every few years, new one blaming the previous one for incompetency and fraud, which will repeat, again and again and again….. and again. Sarfraz
Please visit http://pakobserver.net/detailnews.asp?id=221623
for new info. and my comment:
"Few months ago someone told me that senate secretariat employee’s cooperative housing society has been cancelled and people who purchased property there will receive their money back. Ongoing events of periodical meetings with no outcome do support that notion. If committee was so sincere, and land and project is still alive, committee would issue allotment orders to the members who have already paid in full. I feel bad for those who died waiting for a property that was going to be major assets for their families. "
Nothing will happen in housing society for at least next 20-30 years. Great example of land fraud. Office bearers of the society will keep changing every few years, new one blaming the previous one for incompetency and fraud, which will repeat, again and again and again….. and again.
I am a member of senate housing society please inform me what is going on in socity
Nothing is going on, and, nothing will go on………… Correction, drama of committee is going on, with extension to the date of next action, which will not happen…………… Someone has to take this matter to the supreme court.
It is very unfortunate that Society has totally failed in its achievement. Most of people by selling their assets, the first instalments including the Membership fee of Rs. 150,000 for 30×60 plot and Rs. 200,000 for 35×70 plot paid to Senate Employees which facilitated to them double membership with a view to get some benefit near future by disposing-off files as prevailed in other such Societies but unfortunately no one to ask the Administration about its non-achievement. The same investment, if done in open market, now it can augur well with cash benefit. Is there any one who can compensate the members?????????????????????????????????
Safir
My astrologer and palmist tell me that no one who has purchased plot in the senate employees cooperating housing society, Islamabad, will ever receive possession of the plot, just as those who died waiting for that.
it is indeed very unfortunate news that massive corruption find its way in the society of members belonging to upper house of the country.who will come to the rescue of the members of society.Is there any one in the world to secure the investment of the members dreaming shadow in Islamabad.
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