The Supreme Court of Pakistan has issued notices to 10 entities and individuals who allegedly sent large sums of money from abroad. The amounts are £136 million and $44 million, which at the time were equivalent to around Rs35 billion. The notices were issued as part of court proceedings related to the implementation of a Rs460 billion offer made by Bahria Town Karachi (BTK) for land in district Malir. The court ordered that the individuals and entities who had remitted the money should also be notified. The recipients of the notices include Fortune Event Limited, Emirates Dubai, Mashreq Bank, Ultimate Holdings MGT LTD, Premier Investments Global Ltd, and Wedlake Bell LLP. The earlier consent order had mentioned the land’s price, the payment period, and the conditions for default. Bahria Town had made a commitment to pay a total of Rs60.72 billion, but only Rs24.26 billion had been paid. The court hearing is set for November 8 and no adjournments will be granted. The court also stated that alternative arrangements should be made if any counsel cannot attend the proceedings.
>>Join our Facebook Group be part of community. <<