ISLAMABAD - The Islamabad High Court (IHC) has declared a caution notice, issued by the National Accountability Bureau (NAB) and imposed on a commercial plot of an overseas Pakistani in the federal capital, as illegal and termed it “a systematic action against the investor.”
A division bench of the IHC comprising Justice Mohsin Akhtar Kayani and Justice Fiaz Ahmad Anjum Jandran issued the verdict in a petition filed by the overseas Pakistani Raja Zafar Abbasi assailing the caution notice of NAB. The court maintained in its judgment that all the proposed actions of the respondents (NAB) are declared illegal as they have failed to make out any case against the petitioner through any scheme of law.
It added that the inquiry against the petitioner stands closed and caution imposed on commercial plot in F-11 Markaz Islamabad stands removed.
The IHC bench also observed, “While considering the legality of the matter, the imposition of caution in terms of Section 23 of NAO 1999 on the property of the petitioner is considered to be a systematic action against the investor who intends to invest in Pakistan through foreign currency, although the requirement in terms of Section 23 of the NAO 1999 could only be made if any person under inquiry has alleged to have committed an offence, prima facie, relating to corruption and corrupt practice which is not the case in hand.”
It continued that only in those circumstances a charge has to be framed or a caution has to be imposed which requires application in a reasonable manner failing which, it has to be considered malafide on the part of the NAB authorities who have not only wasted the precious time of the institution rather kept engaged the dual citizen who intended to invest in Pakistan such aspects and actions on the part of NAB authorities create a trust deficit in the foreign investment which further damages the economy of Pakistan especially when after three long years, the Inquiry Officer conceded that he has recommended the closure of inquiry and same was agreed by the Executive Board Meeting of NAB.
Advocate Shaharya Tariq had filed the petition. The applicant stated in the petition that he is an overseas Pakistani residing permanently in the United Kingdom and is a businessman. The petitioner added that in August 2009 he had established a company in the UK which was providing management and consultancy service to many groups around the world.
He told the court in 2012, he purchased a commercial plot auctioned by the Capital Development Authority (CDA). He further said that after two years, the petitioner received a notice from Director General Intelligence and Investigation Islamabad qua the alleged transaction, however, the matter was referred to Governor State Bank of Pakistan and despite the explanation of the petitioner, an inquiry was launched by the NAB but the same was not yet concluded even the property of the petitioner was cautioned.