Pink Residency reference: AC to announce reserved verdict on March 8

ISLAMABAD: The Accountability Court on Thursday fixed March 8 for the announcement of its reserved judgment on the petitions of the accused of Pink Residency reference in which they challenged the territorial jurisdiction of the court, in view of the amendments made by the coalition government to the NAB law.

Accountability Court-II judge Nasir Javed Rana, while hearing the case, observed that the court will announce its judgment on the applications filed by accused of Pink Residency case regarding the illegal regularisation of land against Omni Group’s Abdul Ghani Majid and others in which they challenged the jurisdiction of the NAB court under the National Accountability (Amendment) Act, 2022, on March 8.

The NAB had filed a Pink Residency case against Omni Group’s Abdul Ghani Majid and 16 others.

The reference pertains to a project, “Pink Residency” in Karachi’s Gulistan-e-Jauhar area. The accused had been allegedly involved in the illegal regularisation of two plots in Gulistan-e-Jauhar.

One of the plots measured 23 acres of land, while the other was seven acres.

The anti-graft body has alleged that financial transactions related to the illegally-regularised plots were conducted through fake bank accounts.

The NAB estimates that the illegal land regularisation and consequent sale caused a loss of Rs4 billion to the national exchequer.

Copyright Business Recorder, 2023