The Federal Board of Revenue (FBR) on Monday started its legal proceedings to auction properties of former prime minister Nawaz Sharif in order to collect an £8m fine imposed by the National Accountability Bureau (NAB) courts in various cases.
According to reports, agricultural lands in the name of the PML-N supremo located in Jati Umrah in Lahore would be auctioned on November 19.
The Board of Revenue (BoR) has pasted notices on the walls of Jati Umrah residence.The revenue department has also requested the Lahore and Rawalpindi office-bearers of the NAB to participate in the process.
Read More: NAB seeks to auction Nawaz’s assets
In June, the Islamabad High Court (IHC) rejected the pleas to halt the auction of former premier’s properties in Toshakhana (gift depository) reference and dismissed them as unmaintainable.
On April 22, an accountability court (AC) had ordered the auction of the PML-N supremo’s assets since he is absconding in the case.
Later, three petitioners Aslam Uzair, Iqbal Barkat and Muhammad Arshad Malik challenged the AC’s decision.
Later in May, on the orders of the accountability court, the auction process of Nawaz’s 88 Kanal and four marla land in Ferozepur town of Sheikhupura was completed.
The court ordered the Lahore and Sheikhupura deputy commissioners to sell Sharif’s immovable properties in their respective jurisdictions and deposit their proceeds within 60 days after receiving the order.
Three people made their bids for the land. Chaudhry Muhammad Botha made the highest bid of Rs11 million per acre. The bidders were directed to deposit Rs1 million as security.
According to the bid, the value of the entire land is more than Rs110 million.
PHOTO: EXPRESS
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