Supreme Court verdict in Favor of Bahria Town Karachi and accepts Offer of 460 Billion PkR

The Supreme Court has finally accepted Bahria Town Karachi's Rs460 billion offer for the lands it occupies in the Malir district of Karachi and restrained the National Accountability Bureau (NAB) from filing references against it or from further snooping investigations against Bahria Town Karachi. Bahria Town Karachi case had been battling in the SC for quite some time and just last week its ruling was reserved as to whether to accept or reject the offer of Rs.450Bn and on 21st March 2019, the SC has accepted the offer after raising it to Rs.460Bn.

The CEO of Bahria Town Private Limited, Mr. Malik Riaz breathed a sigh of relief and officially tweeted about this happy news by expressing gratitude and stated that

“Securing hard-earned money of investors is our top priority at the moment. This is to inform you all that we have increased our settlement offer in SC today. We have unflinching faith in Allah who will get us through this Insha Allah”

Bahria Town Karachi will have to pay the amount in a seven year’s timeframe however Rs.25 billion have to be paid by August 2019 whilst the accrued is a payable monthly installment of Rs.2.25Bn for the coming three years.

In exchange for such heavy amount, the court has agreed that NAB will refrain from filing references against Bahria Town Karachi and Sindh Government officials. It is important to bear in mind that this Rs.460Bn amount will be deposited in the Supreme Court and later decided upon its distribution.

This is indeed great news for Bahria Town Karachi and the worried investors as they can rest assured that their tied up plot investment is secured and guaranteed safety and speedy development. The land is legally given a green signal and investors can now start ahead with their original plans.

For more updates on Bahria Town Karachi Plots and Development, contact Apex Group.