ISLAMABAD: The Benami Transactions Adju­dicating Authority of the Federal Board of Revenue has confirmed the investigation by FBR’s benami (prohibition) zones in 27 references involving benami assets worth over Rs7.4 billion, most of which are allegedly held by Pakistan Muslim League-Nawaz (PML-N) Senator Chaudhry Tanvir Khan and the Omni group, it emerged on Wednesday.

Three references against the PML-N senator from Rawalpindi and 11 against the Omni group, Karachi involving more than Rs14bn had been referred to the adjudicating authority by the investigation zones.

Under the law, Mr Tanvir and the Omni group have the right of appeal.

In case the appeals are rejected at the tribunal level, then the adjudicating authority will be able to pass an order to confiscate the assets including immovable property and to take that land into possession as state land, according to official documents seen by Dawn.

So far, the three investigation zones — Islamabad, Lahore and Karachi established under the Benami Act — have filed 72 references before Benami Transactions Adjudicating Authority, allowing suspects an opportunity to defend their cases before the authority. Most of the references are still pending for adjudication/decision.

If all the references are decided in favour of the government, it is estimated to yield over Rs39bn revenue.

The zones have already filed six references against six politicians having alleged benami assets across the country. Besides, there are references against non-political figures. These include five cases of benami shares in which benami transaction of Rs159.644 million was identified, six references of benami immovable properties worth Rs5.849bn, one case of benami bank accounts worth Rs1.040bn, and 16 cases of benami vehicles worth Rs351.55m.

Senator Tanvir was proceeded under the Benami Transactions (prohibition) Act, 2017 on account of having 5,058 kanals of benami land in village Rajar, Rawalpindi. The Islamabad Benami zone had investigated the charges and collected evidence before filing the three references before the adjudicating authority, which after conducting the proceedings established all of them.

The senator has filed an appeal before the appellate tribunal inland revenue. Under the law, the appellate body is Federal Appellate Tribunal, which has not been notified as yet despite lapse of several months. The Benami law provides the right of appeal at the level of tribunal and Supreme Court of Pakistan.

In this case three writ petitions were also filed before the Islamabad High Court, which were defended by the Islamabad investigation zone and ultimately withdrawn by the petitioners.

The adjudicating authority also confirmed 10 references against Golden Globe Holding Pvt Ltd; Marshal Homes Builders Developers Pvt Ltd; Parkview Stock & Capital Pvt Ltd; Plaza Enterprises Pvt Ltd; Sky Pak Holding Pvt Ltd; Al Miftah Holding Pvt Ltd; Princeton Builders & Developers Pvt Ltd; Rising Star Holdings Pvt Ltd; Seracom Stock & Capital Pvt Ltd and Royal Enterprises. The estimated worth of these assets is Rs5bn.

The beneficial owners of these properties and shares are Anwar Majeed, Abdul Ghani Majeed, Khawaja Salman Younus, Younus Kidwai, Aslam Masood and others of Omni group.

Under the Benami Act, after investigation by the zones, references are filed before the adjudicating authority, which completes the proceedings in two months. The properties are de-attached if a beneficiary owner provides evidence of the assets.

The adjudicating authority after due deliberation provides opportunity of being heard to the alleged benamidars, beneficial owners and the referring department. The adjudicating authority, after completing all legal and administrative requirements/ formalities, either confirms or revokes the attachment orders issued by the initiating officers.

As the adjudicating authority confirmed the investigation by the zones in the 27 references, the benami assets worth Rs7.4bn will be confiscated by the federal government after confirmation orders from the federal appellate tribunal.

Published in Dawn, December 24th, 2020