KARACHI/ISLAMABAD - Chief Justice of Pakistan (CJP) Justice Gulzar Ahmed Wednesday dismissed the review petition and ordered Commissioner Karachi to demolish Nasla Tower within a month and submit compliance report. During a hearing at Karachi Registry, the three member bench headed by CJP, the counsel for Nasla Tower Munir A Malik in his arguments said construction has been allowed even in cases of lease cancellation. The matter should be reviewed and inspected, the order to demolish the entire Nasla Tower is not appropriate, he argued.

The bench, after hearing the arguments of the lawyer of Nasla Tower, dismissed the review petition.

The bench, while issuing notice on the plea of Alladin Park management, directed the Commissioner Karachi to remove the debris of demolished encroachments and restore the park while directing the Sindh government to cooperate in the restoration of the park.

During the hearing, the court remarked that there would be no more illegal constructions on the land of Alladin Park.

B4U CEO arrested as SC rejects bail plea

The bench reviewed the issues related to rehabilitation of Gujjar, Orangi Nala victims. While ordering the Chief Minister Sindh to rehabilitate the victims, remarked that rehabilitation of the victims was the responsibility of Sindh government, Chief Minister Sindh should manage funds and ensure their resettlement.

SC rejects B4U CEO’s bail plea

The Supreme Court of Pakistan Wednesday turned down the bail plea of Chief Executive Officer (CEO) of B4U Group Saif-ur-Rehman in the Modaraba scam.

A three-member bench of the apex court headed by Justice Umar Ata Bandial conducted hearing of the bail application of CEO B4U Saif-ur-Rehman and rejected the same.

It was August 17 when the apex court had granted interim bail to the accused for two weeks, which was later on extended till September 22.

During the hearing, Justice Mansoor Ali Shah said that according to the law, the SECP has referred Saif’s case to NAB. He questioned that how much tax the accused is paying? The NAB prosecutor said that according to the FBR record, he is an employee of B4U.

The judge then questioned whether the accused has a crypto currency business. The prosecutor said that there is no evidence of crypto currency and prima facie, he has no business.

Khosa contended that the Companies Act applied to the accused. At this point, Justice Mansoor remarked that how the Companies Act would apply to unregistered companies.

The Special Prosecutor National Accountability Bureau (NAB) informed the bench that B4U has committed Rs116 billion fraud and he stated that the accused issued advertisements on Facebook, Whatsapp and various social media websites. He further said that 25 companies in the names of Saif-ur-Rehman family members were formed.

Justice Mansoor questioned whether anyone had filed a complaint against the accused in NAB. The prosecutor replied that they have received 120 complaints by the affectees.

The bench, however, restrained the NAB from arresting the accused from Supreme Court premises. Saif’s counsel Sardar Latif Khosa said that the accused is a billionaire, therefore, he be granted an opportunity to surrender himself to the NAB authorities. The NAB officials, therefore, arrested Saif ur-Rehman from outside the apex court.

According to the NAB, B4U company is accused of cheating the public at large in the name of investment for which SECP has already slapped a Rs4 billion fine. Neither the company has any physical businesses nor any licence from the central bank.

As per NAB’s record, Rs11 billion were taken from the public through social media, which were found in as many as 26 bank accounts run by the company and further investigations are underway to calculate the total amount held by the company in other accounts.