Supreme Court bars NAB from taking action against Bahria Town

ISLAMABAD: The Supreme Court has refrained National Accountability Bureau (NAB) from taking any action against Bahria Town until it rules on a review petition.

The order came after Bahria Town chairman Malik Riaz appeared before a three-member apex court bench on Wednesday.

Chief Justice Saqib Nisar allowed the real estate mogul to resume receiving payments from his members and submit 20 percent of the amount in the court.

In addition, Bahria Town has been asked to file monthly audit report of its accounts.

The Supreme Court later set up a five-member bench to hear the review petition filed by Malik Riaz against a previous court ruling.

Malik Riaz told the court that nobody can raise a mega city in such a short span of time.

On this, Chief Justice Saqib Nisar assured Malik Riaz that justice would be done with him.

Yesterday, hearing a review petition in the Bahria Town case, the top judge directed the property tycoon Malik Riaz to deposit Rs5 billion with the Supreme Court as surety within two weeks.

Malik Riaz filed the petition seeking review of the apex court’s orders in the instant case.

The tycoon appeared before the court and submitted that he holds the apex court in high esteem.

Malik assured the chief justice that he will obey the court orders; however, he requested him not to pass such an order that might affect his employees.

He told the chief justice that the National Accountability Bureau had already cleared the Takht Pari case. He requestedthe court to stay the NAB proceedings until a decision by the apex court in the instant case. Riaz further told the chief justice that people contacted him at the airport yesterday telling him that their billions of rupees investment would go down the drain.

 The chief justice asked Malik Riaz to deposit Rs20 billion with the court. Malik, however, requested him to reduce the amount to Rs5 billion. The CJP then asked him to submit Rs5 billion and come up with an affidavit and suggestions on Wednesday (today) and adjourned the hearing.

Earlier, during the course of the hearing, Malik Riaz told the chief justice that he had planned projects in those areas where people were reluctant to invest owing to lack of adequate security measures. The tycoon said his housing projects included the world's third largest mosque as well as an old-age home, a zoo, schools, and other facilities. The chief justice told him that life in the hereafter was better and more enduring and he should pay his attention in this regard. Malik Riaz assured the chief justice that he will ensure his presence in the court whenever he was summoned.