LAHORE: The government has imposed a fine of Rs10 million on a Lahore-based real estate company, owned by Aleem Khan, for fraud and misleading advertisements, according to a report by a private media outlet.
Official documents of Competitive Commission of Pakistan show Vision Developers had obtained the approval of the Lahore Development Authority (LDA) for a housing society – River Edge Housing Scheme.
The company subsequently applied for NOC from the LDA for a new housing scheme – Park View Villas – which was denied by LDA for being located close to a riverbank, which could be prone to flooding.
Despite this, Vision Developers advertised the new unapproved scheme under the deceptive name of ‘Park View Villas at River Edge Housing Society’, giving the impression that the new scheme was an extension of the earlier-approved River Edge Housing Scheme.
Thus, the competitive commission of Pakistan issued a show cause notice to M/s Vision Developers after the parties appeared for the case on different hearing dates. The order duly signed by Chairperson Vadiyya S. Khalil states, the Commission holds that the unsubstantiated claims of the respondent have a potential of creating unfairly.
Keeping in view the crime, the conduct of M/s Vision Developers calls for a higher penalty, show cause notice stated. The commission imposed a penalty of Rs10 million.
The commission also directed Aleem Khan owned Vision Developers to publish clarifications that Park View Villas is not a housing scheme approved by LDA, for a period of one week in 2 English and 2 Urdu dailies.