The Supreme Court of Pakistan on Friday dismissed a petition seeking a stay order on the auction of six commercial properties linked to Bahria Town, a leading real estate company owned by Malik Riaz. The National Accountability Bureau (NAB) initiated the auction process as part of efforts to recover funds from a 2019 court-approved plea bargain.
A three-member bench, headed by Justice Amin-ud-Din Khan, heard the petition. The NAB had announced the auction of properties in Islamabad and Rawalpindi, aiming to recover unpaid amounts from a £190 million settlement case tied to Riaz, the founder of Bahria Town.
During the proceedings, petitioner’s counsel Farooq H Naek requested an immediate stay on the auction. However, Justice Khan ruled that a stay order could not be granted unilaterally and that the other parties must be heard before any decision could be made.
The court also discussed the plea bargain, with Justice Naeem Akhtar Afghan noting the possibility of annulment if a request was filed with NAB’s chairman. The court adjourned the hearing until August 13, directing Naek to submit the relevant references for further review.
The auction saw the successful sale of the Rubaish Marquee for Rs508 million, while other properties received conditional bids. However, three properties remained unsold .
