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  • Oct 3rd, 2018
  • Comments Off on Court orders auction of Dar’s properties
The Accou-ntability Court hearing corruption case against former Finance Minister Ishaq Dar Tuesday ordered to auction his properties and confiscate his bank accounts in Pakistan. Accountability Court Judge Muhammad Bashir accepted National Accountability Bureau's (NAB) plea seeking permission for appointment of a receiver and sale of moveable and immoveable properties of Dar. The court had earlier reserved its judgment on the matter.

The court while announcing its judgment empowered the provincial government concerned to immediately take possession of Dar's properties. The court observed that it is the authority of provincial government to auction or keep possession of properties of Dar who has already been declared a proclaimed offender in a corruption reference for possessing assets beyond known sources of income.

The properties of Dar include a house in Gulberg-III, Lahore; three plots in Al-Falah Housing Society, Lahore; six acres of land in Islamabad; a two-kanal plot in the Parliamentarians Enclave, Islamabad; a plot in Senate Cooperative Housing Society, Islamabad; a plot measuring two kanals and nine marlas of land in Islamabad; and six vehicles including three Land Cruisers, two Mercedes and one Toyota Corolla in Pakistan.

The court observed that action against Dar's properties abroad would be taken as per law.

According to the NAB, Dar had opened three bank accounts in his name while three others are held by his company, Hajveri Holdings (PVT) Limited.

Dar's investments in the country amount to Rs 3,455,760 of shares in Hajveri Holdings and Sui Northern Gas Pipeline Ltd. His assets also include two flats in Dubai, a Bentley, a Mercedes, and an unspecified amount in shares and investments in Baraq Holding (PVT) Limited and Dar Al Nahayan (PVT) Limited.

The order said that a compliance report of attachment of Dar's properties and bank accounts is available. According to the court order, a period of more than six months has expired after the attachment of the accused properties and banks accounts who was declared a proclaimed offender after he did not appear within time specified in proclamation; therefore, the above said property as well as banks will be at the disposal of the provincial government concerned with the meaning of Section 88 (7) CrPC.

It said that the vehicles of the accused have not been taken into possession so far for the purpose of attachment and directed the investigation officer to take the possession of Dar's vehicles and submit a compliance report with the court.

Copyright Business Recorder, 2018


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