ISLAMABAD: National Accountability Bureau (NAB) Karachi has distributed Rs.
This was revealed during a meeting chaired by NAB Chairman Justice (retd) Javed Iqbal on Tuesday to review the performance of NAB Karachi. Briefing the Chairman NAB, the DG NAB Karachi said that NAB Karachi has launched an investigation into massive fraud based on public complaints against FHSK.
As on February 24, 2021, a total of 5,410 affected people have submitted their claims while Rs 13.958 billion has been refunded to 4,779 affected people. The complainants in their complaints alleged that they had paid millions of rupees to the FHSK management, but still neither their bucked units were handed over to them nor did the FHSK fund them. Refunded.
A complaint was also received from PAF Project Director (South) AHQ Project I Karachi against Messrs. Maxim Properties and its partners Fazaia Housing Scheme Karachi. Started under the agreement. 2015-01-16.
According to the agreement, Messrs. Maxim Properties will transfer 402 acres of land in Deh Taiser and Dehullah Pehahi to PAF as Messrs. Maxim’s equity and PAF will use its brand name and logo as PAF Equity. The scheme will allow and thus distribute houses. Based on unit 50:50. Both sides agreed that PAF would sell its unit quota to its employees, and Messrs. Maxim Properties would sell its 50% quota on the open market to the general public at a premium.
It was further agreed that PAF would not offer to sell its quota of units in the open market to the general public except for Messrs. Maxim. In such a case, the difference between the market price and the price at which PAF offered such units to its personnel would be divided equally between the parties.
According to the final plan, a total of 8,083 housing units of different categories and types were planned at FHSK locations. To raise money from the general public and raise funds for the project, the FHSK management opened bank accounts at Habib Bank Limited and Meezan Bank Limited. These accounts are run jointly by Maxim and PAF with the authorized signatures of each party.
The investigation revealed that out of 8083x housing units, the FHSK management sold 5732x housing units to the general public and collected Rs 18.2 billion from the affected people in terms of registration, booking and installment.
An FHSK site inspection revealed that the project was still incomplete since 2015, with the exception of some infrastructure works. The FHSK management repaid Rs2.5 billion to the general public and released Rs2,336 billion to Maxim Properties. At that time, Rs 13.5 billion, including bank profits, was available in HBL and Meezan Bank’s FHSK accounts.
It was further informed that two accused, namely Tanveer Ahmed and Bilal Tanveer, both partners of Messrs. Maxim Properties and members of FHS Project Management Executive Committee were arrested on 28.12.2019 and subsequently remanded in judicial custody. Sent to court on 11.03.2020. Despite problems and disputes between the Directorate of State Projects and Mrs. Maxim Properties, the land on which the project is being built covers a large portion of the 193-38 acres of government land. To reach out to FHSK victims, NAB Karachi published public notices in leading newspapers. In response to the notice, a large number of victims submitted their claims / requests and demanded a refund.
It was informed that the investigation was completed and the reference was sent to the NAB headquarters for filing. Meanwhile, the Directorate of State Projects / Management of FHSK submitted a request to the Bureau, along with land documents and estimates of existing project assets available in the project, to release the project. Can’t keep it ie Fazia Housing Scheme Karachi and is ready to handle general public responsibilities. .
In addition, the Directorate of State Projects and Maxim Properties filed petitions in the Sindh High Court in Karachi to prevent the NAB from filing a reference, asking it to reimburse the FHS victims to the NAB. Direct
The Sindh High Court, Karachi, in CP No. 7804, approved the order dated 19.05.2020 of 2019, with the decision of Director Directorate Estate Project regarding refund to FHSK’s allotments through NAB with Messrs. Maxim Properties. Under which NAB Karachi was directed to monitor and ensure that all allottees are paid in full in the shortest possible time.
In compliance with the directive of the Sindh High Court, the NAB issued public notices in the leading newspapers to reach out to the affected people for their refund.
As of February 24, 2021, a total of 5,410x victims have filed their claims, and 4779x have been reimbursed Rs 13.958 billion.
To meet the shortfall for the return of the remaining affected people, the FHSK management has arranged for the sale of 16 acres of project land at a cost of Rs. 1.8 billion. Proceeds from the sale will be credited to the Fazaia Housing Scheme Collection Account and distributed to the affected persons as directed by the Sindh High Court.
The matter was settled on February 25, 2021 in the Hon’ble Sindh Court, Karachi. The court allowed the FHS administration to sell the land and gave it two months to complete the refund process.
Chairman NAB Justice (Retd) Javed Iqbal appreciated the performance of NAB Karachi under the supervision of DG NAB Karachi Dr. Najaf Qali Mirza that he made strenuous efforts to return billions of rupees to the affected people of Fazaia Housing Scheme Karachi.