ISLAMABAD, Pakistan – In a high-stakes legal move, Bahria Town (Pvt) Ltd has knocked on the doors of the Supreme Court, urging it to halt the impending auction of its properties—an action greenlit by the Islamabad High Court (IHC) as part of a major corruption case fallout.
The real estate giant warned that the forced sell-off of six prime properties in Rawalpindi and Islamabad would paralyze its operations and shatter the trust of millions of investors. In its petition filed under Article 185(3) of the Constitution, the company argued that its assets should not be penalized for the actions of Zain Malik, whose plea bargain in the £190 million case remains unresolved.
Bahria Town’s counsel, Farooq H. Naik, emphasized that the company is a separate legal entity from Malik and should not suffer consequences of a disputed deal. He stressed that allowing NAB to proceed with the auction undermines due process and investor confidence.
The National Accountability Bureau (NAB), however, maintains that the auction is a legitimate recovery measure under Section 33E of the NAB Ordinance, citing Malik’s failure to honor the payment terms agreed in the plea deal.
Industry experts warn the property auction could ripple across the real estate sector, potentially triggering market instability and damaging investor sentiment.
This story has been reported by PakTribune. All rights reserved.