LAHORE: Homeland Real Estate and Builders’ reference to the National Accountability Bureau (NAB) was returned by an accountability court on Thursday.
The details show that, in accordance with the modified National Accountability Ordinance (NAO), 2022, the court determined that the subject was beyond its purview.
Furthermore, the bureau was given a directive by the court to bring up the issue with the appropriate forum for further action.
According to sources, Judge Qamar-uz-Zaman of the Accountability Court issued the directives after ruling on an application the accused submitted disputing the court’s authority to hear the case.
The accused submitted under the revised NAO, the accountability court was not authorized to examine any references involving amounts less than Rs. 500 million.
It was argued that since the reference sum was less than Rs. 500 million, the court lacked jurisdiction.
It is relevant to mention here that the defendants, Nadeem Ahmad, Nadeem Zia Pirzada, the proprietor of Paragon Housing, Umar Zia Pirzada, and Zulifqar Ahmad had each been named in a reference filed by NAB.
The defendants are accused of defrauding the public out of Rs. 400 million by setting up a real estate business called Homeland Real Estate and Builders that lured people into investing in the real estate market.
