Federal Tribunal Cancels Benami Cases Against Omni Group Directors

A federal tribunal in Karachi has cancelled benami property cases worth billions of rupees against several directors of the Omni Group, ruling that the Benami Transactions Act of 2017 cannot be used for deals made before the law existed.

The Federal Appellate Tribunal (Special Bench Karachi) said that the properties and shares declared benami by the Benami Adjudication Authority were not eligible for confiscation, since the transactions had taken place before 2017, when such deals were not illegal.

The two-member bench also noted that applying the law to older cases was “beyond legal authority.”

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The ruling covered multiple assets and companies linked to Omni Group directors Muhammad Younus Kodwai, Aslam Masood, Abdul Ghani Majid, and Khawaja Salman Younus. These included commercial plots in Karachi and shareholdings in Thatta Cement Company Limited. The tribunal specifically mentioned:

Doctor Plaza Plot No. Z-C33, Scheme 35, Saddar (M/s Princeton Builders and Developers Pvt Ltd)
22.64 million shares of Thatta Cement (M/s Sky Pak Holding Pvt Ltd)
7 million shares of Thatta Cement (M/s Rising Star Holding Pvt Ltd)
Commercial Plot No. 216, Dr. Daud Pota Road, Karachi (M/s Marshall Homes Builders and Developers Pvt Ltd)

The bench also ruled that a 3,220-square-yard property in Civil Lines Quarters, bought by M/s Plaza Enterprises Pvt Ltd, was not a benami transaction, and therefore could not be seized.

In its detailed judgment, the tribunal said the Benami law applies only to transactions made after its 2017 enforcement. It also clarified that properties declared under the 2019 Asset Declaration Ordinance (Amnesty Scheme) could not be confiscated under the Benami Act.

The tribunal further criticized the Benami Adjudicating Authority and the Initiating Officer for exceeding their legal powers and treating old transactions as benami. It said the proceedings contained “basic legal flaws” and could not stand in court.

With this verdict, all confiscation orders against Omni Group directors have been set aside, closing a significant chapter in the long-running benami property investigations.