Bahria Town 358 Billion Offer – Bahria Town Karachi Case Latest Hearing Update
Bahria Town Karachi case is the hot issue running in Supreme Court and thousands of concerned ones are looking forward to it. So far Bahria Town has placed various settlement offers to resolve the case and get over from this uncertainty but Supreme Court is unsatisfied till yet. Supreme Court’s hearings for implementation on its 4th May 2018 verdict are underway and we are updating our readers about all important aspects of it. Here is another update regarding Bahria Town Karachi Case 22nd Jan 2019 hearing that took place in Supreme Court.
Supreme Court Unsatisfied with Bahria Town 358 Billion Offer – Latest Hearing Update
On Tuesday 22ndJan 2019,three judge implementation bench headed by Justice AzmatSaeedconducted hearing ofBahria Town Karachi case. Earlier on 15th Jan hearing, Bahria Town offered 250 Billion as a settlement amount to avoid legal proceedings but Supreme Court rejected the offer by stating that the amount is not sufficient.
At the recent hearing on 22nd Jan, presenting Bahria Town case counsel Ali Zafar placed an increased offer of Rs.315billion for the legalization of all 16,896 acres of disputed land. Moreover counsel added that my client cannot pay more than Rs. 350 Billion.
Dismissing this offer Justice Saeed stated that Rs. 315 billion is the price that Bahria Town should pay for just 7,068 acres of land as Supreme Court had fined Rs. 225 Billion to legalize 7000 acres of land in 2014.
Responding to this counsel on behalf of Bahria Town said, my client is in a fix and desperately wants to settle the matter &then he placed a final offer of Rs. 358 Billion.
After this, three judge implementation bench decide to rule on this offer after listening to federal & Sindh Government as well as NAB and postponed the matter till next hearing.
Malik RiazTweet on the Matter – Bahria Town Karachi Case Latest Update
Meanwhile considering the underway legal procedure, CEO of Bahria Town Mr. Malik Riaz tweeted yesterday on 22nd Jan. He took all stake holders & investors of Bahria Town Karachi into confidence. Here is his stance and the way he assures all concerned ones suffering uncertainty because of Bahria Town Karachi legal proceedings.
“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 Supreme Court today. We have unflinching faith in Allah who will get us through this Insha Allah. Ameen.
Also, my passion to revolutionize housing sector in Pakistan will continue with same vigor. Special gratitude to all our investors for standing by my side.”
We will keep our readers updated about the further hearings of Bahria Town Karachi’s case.
Keep visiting Jaidad Group for further real estate news and updates.