ISLAMABAD, Aug 8 (Alliance News): The Supreme Court on Thursday refused to grant Bahria Town immediate relief by rejecting its plea to stay the auction of its properties.
A three-member bench headed by Justice Aminuddin Khan heard the case and directed the submission of copies of references against Malik Riaz and Bahria Town.
Justice Aminuddin made it clear that a unilateral stay could not be granted, adding the matter would be decided after hearing the other side. The court fixed August 13 for hearing all main and miscellaneous petitions together.
Earlier, on August 5, the Islamabad High Court dismissed petitions seeking to halt the auction of Bahria Town’s properties, paving the way for the National Accountability Bureau (NAB) to proceed.
According to NAB Rawalpindi, the auction of six commercial properties is part of efforts to recover the outstanding amount under a court-approved plea bargain.
Three properties have already gone under the hammer, including Rubesh Marquee, which fetched Rs 508 million — Rs 20 million above its reserve price. NAB said payment and transfer formalities were in progress.
The bureau added that Corporate Office One received a conditional bid of Rs 876 million, while Corporate Office Two drew Rs 881.5 million, with final approval pending. Auctions for three other properties were postponed due to bids falling short of the required amount.
