KARACHI: Zulfiqar Hassan Ali, a notorious character of Karimabad Ismailia Multipurpose Cooperative Society Limited, Karachi (KIMCSL) embezzlement case of Rs.800 Million was granted post-arrest bail subject to furnishing solvent surety in the sum of Rs.500,000/- (Rupees Five Lacs Only) on 18.07.2019 from Sindh High Court. 

Informed sources disclosed that he had allegedly received many benefits, commission, kickback and bribe while carrying out allocation of flats/shops in the capacity of Honorary Secretary of the society. He ordered converting lavatory into commercial shop, fake election, nomination of Administrator, non-deposit of security fee and fund in the account of the society during his tenure from 1991 to 2001 (10 years). Now he is allegedly being Corruption Guru, running a training center of corrupt practices for the present occupants of KIMCSL Committee like Imran Panjwani. 

Karimabad Ismailia Multipurpose Cooperative Housing Society, Karachi (KIMCSL) embezzlement case of Rs.800 Million is still pending with NAB Accountability Court since 2019, where about 15 accused were already on bail. According to NAB the private members being Committee office-bearers violated the bye-laws occupied illegally and unlawfully the management of the society. A total of 23 building blocks were approved by Sindh Building control authority (SBCA) with amenity area admeasuring 19,500 sq. feet including Primary School, Recreational area, Library, Lavatories, air raid shelters and Emergency Exit (Gate) of building No(s). KA10, KA11, KA16 & KA17. 

Afterwards the revised plan was submitted by the management of KIMCSL before the officials of SBCA, whereby the reserved area for amenity was converted into commercial zone. The SBCA officials by misusing their authority, power and position, in connivance with each other allowed such conversion in violation of Sindh Building Control Authority rules and regulations as well as in contravention of building plan dated 24.8.1998 and approved the same. 

Thereafter, the management allegedly sold that area at high rates, but the amount so received were pocketed by them as during investigation, it was found that huge amounts were deposited by them in their personal accounts being maintained by them in bank-like arrangement being operated by Ismaili Community in Al-Noorany Housing Society. Further, it was also come on the surface that the transfer and registration fees to the tune of Rs.30.5 Million, the security deposit amounting to Rs.76 Million were collected by the management, which was not mentioned in the books of account and embezzled by the office bearers of KIMCSL in the same manner as above.

In this case, the land 8-30 acres (40,172 sq. yards) was gifted by Aga Khan Ismaili Charitable Trust to the KIMCSL for welfare of the people in 1991. Instead, the management received huge amounts by selling amenity areas and used the same for their welfare. It would not have been possible without the role played by the officials/accused belonging to the Sindh Building Control Authority, who approved the revised plan illegally in violation of SBCA Rules and thus jointly caused loss to the tune of Rs.800 Million. 

There was sufficient material available on record to connect Nizar Ali Fazwani, Karim Farishta, Amin Muhammad Fazwani and Essa Khan with the commission of the offence. Zulfiqar Hassan Ali and Amin Muhammad Fazwani were the two masterminds of this all scandal, the sources added.

Published in The Daily National Courier, August, 03 2024

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