ISLAMABAD, Sept 17: State-managed Employees Old-age Benefit Institution (EOBI) has once again sought time from the Supreme Court to decide the fate of its huge and allegedly corrupt investment in real estate – for the same reasons that it gave in the past.
No decision could be taken on the investments until a new Board of Trustees (BoT) of the EOBI replaced the existing one as the allegations have rendered it dysfunctional, EOBI counsel M. Bilal informed a three-judge bench of the court, headed by Justice Anwar Zaheer Jamali, which resumed its suo motu hearings into the allegations of corruption on Tuesday.
Advocate Bilal, representing the EOBI chairman, Mohammad Ayub Sheikh, said work on constituting a new BoT, a 60-day exercise, had begun and would be in place after the prime minister approves it.
At the last hearing, on August 28, the apex court had asked the EOBI for its plans so that the scandal associated with EOBI’s alleged multi-billion corruption in its investment in private sector real estate deals is decided.
Meanwhile, while the Federal Investigation Agency (FIA) has been probing the alleged corruption, the EOBI has sought Expression of Interest (EoI) from solicitors to determine the value of the properties in question to reach a decision in the light of the trends in the market.
Its counsel said Tuesday was the last date for the pre-qualification of EoI.
On the other hand, the Supreme Court ordered the FIA not to cause harassment to any of the owners of different companies and developers who sold their land to EOBI.
It also asked the FIA to submit a justification, by October 1, for putting the names of a number of owners of companies and housing societies, which had sold properties to the institute, on the Exit Control List (ECL).
Advocate Chaudhry Afrasiab Khan complained to the bench on Tuesday that although his clients Raja Mohammad Sanaullah and Raja Maqsoodul Haq handed cheques valued over Rs90 million to the FIA for their land involved in the EOBI scandal, the FIA did not restore the land to them and continue to harass them instead.
He sought court’s protection for his clients, claiming that apart from the FIA excesses they were also being maligned in the media. Their public reputation was at stake because of their negative portrayal in the media, the counsel said.
At this, Justice Jamali asked Deputy Attorney General Sajid Ilyas Bhatti, representing FIA, why the alleged harassment when the two had returned the money to prove their bonafide.
Raja Maqsoodul Hassan, said to be the brother of Raja Azeem, a son-in-law of former Prime Minister Raja Pervez Ashraf, allegedly sold a plot measuring eight kanals, located at Moza Kallar Kahar, District Chakwal to EOBI for a price of Rs32 million.
Similarly, EOBI allegedly purchased a 1.9 kanal plot, located on Chakwal-Talagang Road, for Rs60.4 million from Sanaul Haq, whereas the registered deed mentioned the price at Rs11.7 million.
Sanaul Haq also is a brother of Raja Azeem, besides the plot is subject to litigation, a FIA report suggested.
Meanwhile, Advocate Iftikhar Gilani complained to the court that despite its directions, the FIA was harassing his client Wamiq Anwar of Diamond Evaluators, and his son.
Wamiq is in jail and the Special Judge Central Lahore is not taking up his bail plea in view of the pendency of the matter before the apex court, advocate Gilani said.
The bench directed the concerned court to positively decide Wamiq’s bail application as early as possible and inform the Supreme Court about it.
A number of other counsel also accused FIA for harassing respective clients.
The court also ordered the owners of different land development companies named in the scandal to submit cheques for the money they wish to return to EOBI to the Supreme Court registrar within seven days.
