The Supreme Court (SC) has rejected Bahria Town’s offer to deposit Rs250 billion to avoid a National Accountancy Bureau (NAB) reference for illegally acquiring land for its projects in Karachi, Islamabad and Murree.
According to reports, Bahria Town’s counsel on Tuesday offered to submit Rs200 billion to waive off charges against the real estate developer.
Justice Azmat Saeed, who was heading the three-member implementation bench hearing a case pertaining to the implementation on an apex court verdict against Bahria Town, reminded the counsel that a fine of Rs285 billion had been imposed on Bahria Town in 2004.
“If the fine money is increased by 40 per cent, it will amount to Rs300bn,” he remarked.
Under the May 4 verdict, the court had barred Bahria Town Karachi from selling any plot or constructed apartment in the housing scheme on the outskirts of the metropolis, declaring the grant of land to the Malir Development Authority and its exchange with the land of the private land developers illegal and void ab initio.
During the proceedings on Tuesday, Justice Saeed noted that three separate verdicts had been passed against Bahria Town, so it should make “separate and reasonable” offers for its projects in Karachi, Islamabad and Murree.
At this, Bahira Town’s counsel increased the offer to Rs250bn.
“This is not a suitable way to deal with [the apex court],” Justice Saeed said, reprimanding the lawyer. “We may ask the NAB to file a reference.”
“Our mistake was not that big,” the counsel argued, to which the judge replied, “Mistake is supposed to be of one or two kanals, not of thousands of acres.”
The counsel then sought one week’s time to file a reply which was granted by Justice Saeed, who also directed Bahria Town to submit written offers in all three cases.