The Chief Justice of Pakistan, Mian Saqib Nisar on Monday ordered to confiscate the property of Bahria Town chairman Malik Riaz.
The Supreme Court passed the order during the hearing of a review petition filed by Malik Riaz against the top court’s earlier verdict regarding Bahria Town Karachi. The apex court had issued a verdict in May against the Bahria Town Karachi Housing project.
In the order, the court barred Bahria Town from selling or allotting property in Karachi and declared the housing project’s exchange of land with Malir Development Authority (MDA) illegal.
During the hearing of the petition on Wednesday, Chief Justice of Pakistan questioned that how a large city like Bahria Town Karachi was built within a year. We all know about your associates as well as your dealings, Chief Justice added.
The apex court had also ordered Bahria Town to deposit 20% of the fee received from allottees and to submit monthly audit reports of its accounts as well.
On Tuesday, the court also ordered Malik Riaz to deposit Rs5 billion within 15 days as a guarantee.