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SHC directs to take into custody all the assets of the Fazaia Housing Scheme

KARACHI: The Sindh High Court (SHC) has directed to take into custody all the assets of the Fazaia Housing Scheme Karachi and sought details of the Debit/Credit amounts in all the bank accounts of the Fazaia Housing Scheme since 2015.

A single bench comprising Justice Zulfiqar Ahmed Khan heard a petition seeking opening of accounts of the Fazaia Housing Scheme. During the hearing, the court appointed the official assignee of the Sindh High Court as the caretaker and directed the official assignee to take into custody all the assets of the Fazaia Housing Scheme.

The court also ordered to provide full details of the Debit/Credit money in the accounts of the Fazaia Housing Scheme since 2015. The court directed that advertisements be placed in the official Assignment newspapers so that the victims could contact for a claim.

The victim’s lawyer has stated that we should be compensated with our basic money. The accused have passed the order along with some of the victims. The accused have been granted bail on the condition that they return the money to the victim within 6 months. Yes, we had filed a petition against it which could not be heard in time. Under the NAB Ordinance, the accused can only bargain.

The court asked if there could be such a settlement in a criminal bail application. The public prosecutor argued that a refund petition had been filed by 32 victims. The court had combined all the petitions and passed the order. The court remarked that the bail granted to the accused did not include the amount.

Lawyer Maxim Marketing took the position that all the victims will be given their principal amount but they are also asking for interest. There are 5,500 victims. Yes, the property will be sold through which the remaining amount will be paid.

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