OUR STAFF REPORTER ISLAMABAD - An application has been moved in the Supreme Court seeking direction to Cabinet Committee on Privatization (CCoP) and other four respondents including Agha Khan Fund for Development (AKFD) Geneva to submit documents pertaining to Habib Bank Limited (HBL) privatisation on next date of hearing. Former Planning Secretary Dr Akhtar Hassan Khan on Wednesday filed the application through Advocate Supreme Court Muhammad Ikram Chaudhry making Federation of Pakistan through CCoP, the Chairman Privatization Commission (PC), HBL through its president and AKFD as respondents. Dr Akhtar Hassan Khan said in the application that AKFD being a successful bidder purchase the HBL shares/ transferee of management through the disputed privatisation process, adding that AKFD is also the owner of Sarena Hotels chain. He pleaded that at the time of HBL bidding in 2003-04 the bidder AKFD was availing loan facility from HBL for development construction operations of the Sarena Hotels. Dr Khan added that fact was concealed by CCoP, PC, HBL and AKFD that successful bidder AKFD was under debt of HBL for Serana Hotel while HBL bidding was held which he pleaded was hold malafidely, tactfully and for ulterior gains where material facts were concealed which legally provides sufficient grounds to disqualify AKFD in the bidding process. Furthermore he pointed out that a borrower cannot participate in the bidding process having adverse interest as such the whole transaction by respondents was illegal and un-constitutional. Dr Akhtar contended that the conduct of CCoP, PC, HBL and AKFD was throughout dubious, malafide and aimed at entering into an agreement at the cost of billions of rupees loss to the bank as well as damage to the public interest. It is worth mentioning that Dr Khan had challenged HBL bidding in 2004 which was Rs22.4 billion, expressing that highest bid was less than the existing value of the net assets of the bank which he said was Rs23.7 billion in 2003.