The National Accountability Bureau (NAB) will auction hundreds of kanals of frozen property today (Monday) in connection with the £190 million reference against Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan and others.
According to NAB Rawalpindi, 248 kanals and 8 marlas of land on Club Road, Islamabad, and 405 kanals and 3 marlas in Mohra Noor village will be sold. The properties belong to Bahria Town, whose plea to halt the auction was dismissed by the Supreme Court.
RELATED: Apex court rejects Bahria Town's relief plea to halt properties auction
Justice Aminuddin, while rejecting the stay request, ordered the submission of references against Bahria Town owner Malik Riaz and the housing society. He said he would decide after hearing both parties, with all related petitions scheduled for hearing on August 13.
Earlier court rulings
On August 5, the Islamabad High Court (IHC) also rejected petitions against the auction, allowing NAB to proceed with selling Bahria Town properties. This follows earlier auctions of three out of six commercial properties to recover the outstanding plea bargain amount.
The Rubaish Marquee was sold for Rs508 million, Rs20 million above the minimum price.
Conditional bids of Rs876 million and Rs881.5 million were received for Corporate Office One and Corporate Office Two, respectively, pending approval.
Why the auction is being held
NAB has stated that the auction aims to recover the remaining amount from Bahria Town as per the court-approved plea bargain.
Three properties could not be sold earlier due to low bids and will be re-auctioned. The process of transferring proceeds from already sold properties to NAB accounts is currently underway.
