Property tycoon Malik Riaz faces the worst blow
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RAWALPINDI - Malik Riaz faces the worst blow as he may not use the brand name ‘Bahria Town’ for his real estate projects.
The sessions court of Rawalpindi has rejected his appeal seeking the nomenclature.
In March 2015, handing down a verdict in a case between the naval subsidiary Bahria Foundation and Mr Riaz, a civil judge accepted the former’s petition – originally filed in 2002 – to restrain the latter from using the name ‘Bahria’ for his housing society.
Bahria Town challenged the verdict in the additional district and sessions court and the case was pending adjudication.
The Supreme Court earlier this month directed the sessions court to conclude the proceeding in two weeks.
Additional District and Sessions Judge Hakim Khan Bakkhar on Saturday rejected Bahria Town’s appeal and upheld the verdict of the civil judge.
When contacted, a senior official of Bahria Town, retired Col Khalil, said Malik Riaz, not Bahria Town, had become a brand name. He said the housing society would explore the legal course.
According to the details of the case, Hussain Global – a property firm linked to Mr Riaz – signed an agreement with the Bahria Foundation in 1996 to set up Bahria Town.
The foundation was established in January 1982 as a charitable trust under the Endowment Act 1890. The Bahria Foundation Committee of Administration, headed by the chief of the naval staff, consists of eight members, including the foundation’s managing director.
