NICL land deal: Properties worth Rs1 billion confiscated

Move requested by four accused Mohsin Habib Warraich, Habibullah Warraich, Amin Qasim Dada and Javed Syed.

LAHORE:

A trial court has confiscated properties worth Rs1 billion in the multi-billion National Insurance Company Limited (NICL) land scandal, The Express Tribune learnt on Sunday.

The move was requested by the Federal Investigation Agency (FIA) officials against four accused – Mohsin Habib Warraich, son of former state minister for defence production Habibullah Warraich, Amin Qasim Dada and Javed Syed, both former directors on NICL board, and Rana Muhammad Ali, the manager of Mohsin Habib Warraich’s firm under Section 188 of the Criminal Procedure Code (CrPc).

Sources in FIA told The Express Tribune that these four accused were declared proclaimed offenders after they were implicated in the controversial land deal.

A breakdown of the confiscated properties is as follows: property worth Rs600 million owned by Mohsin Habib Warraich, property worth Rs180 million owned by Amin Qasim Dada, Rs120 million by Amin Qasim Dada. The value of Rana Muhammad Ali is the remainder of the sum.

FIA officials said that if the accused failed to appear before the investigators and the court, their properties could be auctioned for the recovery of due amounts.

Published in The Express Tribune, March 28^th, 2011.