The Supreme Court of Pakistan rejected Bahria Town’s request to halt the National Accountability Bureau’s (NAB) auction of its properties, linked to a failed plea bargain, paving the way for the sale of assets worth billions of rupees. A three-member bench, led by Justice Amin-ud-Din Khan, heard the appeal on Friday.
Bahria Town’s lawyer, Farooq H. Naek, expressed apprehension about the case’s abrupt listing, stating he received notification late the previous night. Justice Amin proposed scheduling the case for the following week, but Naek requested an immediate suspension of the ongoing auction. The bench briefly adjourned before reconvening.
Upon resumption, Justice Naeem Akhtar Afghan clarified that only a supplementary request was being reviewed and directed the inclusion of complete NAB reference copies to clarify the alleged financial wrongdoing. He pointed out that the defendant had previously agreed to a plea bargain, surrendering eight properties. However, the defendant now alleges coercion and has asked the NAB Chairman to revoke the agreement. Justice Afghan questioned how NAB could proceed with an auction before a conviction.
Naek contended that both the application to nullify the plea bargain and the related NAB references were pending. Justice Amin insisted that no stay order would be issued without hearing the opposing side. The court demanded the submission of relevant paperwork, including NAB references against Malik Riaz and Bahria Town, postponing the hearing until August 13.
Meanwhile, NAB successfully auctioned three properties on August 7, realizing Rs2.27 billion. The Rubaish Marquee sold for Rs508 million, while two commercial buildings received provisional bids of Rs876 million and Rs881.5 million, respectively.
The sale of three remaining properties – Arena Cinema (reserve price Rs1.1 billion), Bahria Town International Academy (Rs1.07 billion), and Safari Club (Rs1.2 billion) – all situated in Bahria Town, Rawalpindi, was delayed due to insufficient bids. These assets were seized in relation to a defaulted plea bargain involving Zain Malik, son-in-law of Malik Riaz and co-owner of the Bahria Town developments.
Malik Riaz, a controversial property magnate, remains overseas, reportedly avoiding apprehension in multiple high-profile legal proceedings, including the £190 million Al-Qadir Trust case and the Bahria Town Karachi corruption reference.
The auction proceeded after the Islamabad High Court dismissed challenges against the sale of six Bahria Town properties in Rawalpindi and one in Islamabad, effectively authorizing NAB’s planned auction.