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Notice Issued for Attachment of Anonymous Properties, Assets

Real Estate News
19 Dec 2019
Notice Issued for Attachment of Anonymous Properties, Assets

Notice Issued for Attachment of Anonymous Properties, Assets

Islamabad: The Benami Transactions (Prohibition) Zone-I Islamabad has formally started an investigation into a case involving seven bank accounts and 125,000 kanals of land registered in the name of a company.

In a recent event, the Benami Transactions (Prohibition) Islamabad has initiated the investigation into a case of Benami assets that have a market value of PKR 15-20 billion. The beneficiary is a renowned Islamabad-based company having international branches. During the attachment, no one is entitled to transfer the properties or derive any benefit from these assets.

The tax officials have said that a Lahore-based politician is believed to have links with the company and the name cannot be revealed before the completion of the investigation. The anti-Benami zone under the Benami Transactions (Prohibition) Act 2017 will complete the investigation in 90 days after the issuance of show-cause notice for attachment of assets.

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