DHA scam: IHC approves bail for Butt
NAB said that Aslam Butt allegedly sold the certificates of DHA without paying land owners
Officers had accepted embezzlement charges and returned the money to NAB. PHOTO: EXPRESS
ISLAMABAD:
The Islamabad High Court on Thursday granted bail to the former chief executive of Elysium Holdings Pakistan Ltd Waseem Aslam Butt in the Defence Housing Authority (DHA) Islamabad project scam case.
A division bench comprising Justice Noorulhaq Qureshi and Justice Athar Minallah granted bail against a bond worth Rs3 million after the parties concluded their arguments.
NAB had arrested three suspects, an ex-director project of DHA Col (retd) Sabahat Qadeer Butt, an ex-administrator of DHA Brig (retd) Javed Iqbal and Butt for allegedly causing huge losses for illegally selling non-saleable certificates of the project in violation of the contract between DHA and Elysium Holdings.
The suspect, through his counsel Abdul Aziz, had sought bail from the court claiming that he is being used as “scapegoat” to protect the actual culprits.
NAB said that Aslam Butt allegedly sold the certificates of DHA without paying land owners. In reply, Aslam said that embossing the words “non-saleable” on allotment certificates were not obligatory for the company under the JVA. He argued that it did not result in any loss.
Published in The Express Tribune, December 9th, 2016.
The Islamabad High Court on Thursday granted bail to the former chief executive of Elysium Holdings Pakistan Ltd Waseem Aslam Butt in the Defence Housing Authority (DHA) Islamabad project scam case.
A division bench comprising Justice Noorulhaq Qureshi and Justice Athar Minallah granted bail against a bond worth Rs3 million after the parties concluded their arguments.
NAB had arrested three suspects, an ex-director project of DHA Col (retd) Sabahat Qadeer Butt, an ex-administrator of DHA Brig (retd) Javed Iqbal and Butt for allegedly causing huge losses for illegally selling non-saleable certificates of the project in violation of the contract between DHA and Elysium Holdings.
The suspect, through his counsel Abdul Aziz, had sought bail from the court claiming that he is being used as “scapegoat” to protect the actual culprits.
NAB said that Aslam Butt allegedly sold the certificates of DHA without paying land owners. In reply, Aslam said that embossing the words “non-saleable” on allotment certificates were not obligatory for the company under the JVA. He argued that it did not result in any loss.
Published in The Express Tribune, December 9th, 2016.