Case Against Bahria Town CEO for Failing to Transfer Shop Possession: Warrant Issued by Magistrate II (Malir) Under Section 200 of the Code of Criminal Procedure.
Ikramullah Khan, through his counsel, filed a direct complaint before Judicial Magistrate II under Sections 200 and 498A for fraud allegation in case against BTK CEO Ali Riaz Malik along with Mr Durrani.
Counsel stated that the amount was to be paid by his client which is related parties of two entities, M/s Fahad Brothers and Shaheen Trading Group as Rs 20.9 million. The said companies are major shareholders in BTK with equity shares owned about 35% each.
- Counsel further stated that the firm had failed to comply with this obligation since since January of year
_, and later his client found allegations against CEO Ali Riaz Malik, including misappropriation of property.
The court took cognizance after examining a complaint filed by Ikramullah Khan along with report submitted before the Court in September 2023. - The magistrate adjourned hearing till January __, and directed Nominated persons to appear on next date for trial against BTK CEO Ali Riaz Malik, as well Shahnawaz Ayaz Durrani. Both accused are being asked furnish Rs 50,000 bond each in their behalf.
- In its remarks before the Court today (December __), magistrate said: “Given evidence and allegations presented by Ikramullah Khan that BTK CEO Ali Riaz Malik has misappropriated a project he owns, with intent to defraud him of his property. The court directed accused be brought before the Court on next date.”
- In its remarks today (December ), magistrate also noted that “the manager of operations at Bahira Town acknowledged existence of civil suit between parties and had not given a definitive response about status of shops in project. The Magistrate has adjourned the hearing till January , 2024.”
- Published by Dawn, December __, 2023/2024