Imran Khan seeks to justify money trail ahead of disqualification case hearing – Pakistan


ISLAMABAD: A day earlier than the listening to of his disqualification case, Pakistan Tehreek-i-Insaf (PTI) chief Imran Khan on Monday re-emphasised earlier than the Supreme Courtroom that his Draycott Flat in London was bought by overseas earnings that he was neither required to reveal in Pakistan, nor was the cash remitted from Pakistan.

Tax was deducted at supply by the departments involved from the receivable lease, as and when the flat was put up for lease, defined a press release submitted to earlier than the apex courtroom by Mr Khan’s counsel, Naeem Bokhari.

A 3-judge Supreme Courtroom bench, headed by Chief Justice Mian Saqib Nisar, will resume listening to Hanif Abbasi’s petition in search of the disqualification of the PTI chief and secretary normal Jahangir Tareen for not disclosing property, proudly owning offshore corporations and for the PTI being a foreign-aided occasion.

On the final listening to on Sept 12, the courtroom had puzzled whether or not Mr Khan, who has been contesting the overall elections since 1997, had ever declared the over Rs40 million mortgage he acquired from his ex-wife for the acquisition of the Banigala property.

In response, the PTI chief submitted that the sale value of the London flat was credited to Niazi Providers Restricted’s account in Barclays. It’s from this account that 562,415 kilos have been remitted to the accounts of his ex-wife, Jemima Khan.

Transaction particulars resulting in buy of Draycott flat, Banigala property submitted to SC

Mr Khan additionally tried to fulfill the courtroom by offering the whole image of how the Banigala land and the London flat have been bought.

He insisted that his cost to his Jemima Khan was a matter between a husband and spouse, not declarable to any authority as a result of it had been settled between them, leaving nothing to declare to any authority, together with the Election Fee of Pakistan (ECP).

He claimed that he paid the preliminary two instalments for the property from his personal sources, which have been mirrored in a ‘managers test’ of March three, 2002 and a requirement draft of March 28, 2002.

In compliance with the Supreme Courtroom orders, Mr Khan additionally submitted the unique buy paperwork of the Banigala property in a sealed envelope.

The reply maintained that Mr Khan had declared the Rs6.5m as a present to his then-wife in his tax returns for the yr ending June 30, 2002.

Aside from these two funds, all the quantity for the Banigala land was paid by Jemima Khan by remittances to Rashid Ali Khan from April 2002 to Jan 2003.

Any cost made by Rashid Ali Khan in anticipation of remittances by Jemima Khan was settled between the 2, the reply defined, including that round Jan 23, 2003, when all the cost for the 300 kanals of land had been made, Mr Khan’s contribution didn’t exceed Rs7.four million.

The entries within the income document for the acquisition of the Banigala property confirmed that each one mutations have been within the identify of Jemima Khan.

After their divorce, the property was returned to Mr Khan, since Jemima didn’t want to retain it.

Referring to the London residence, Mr Khan recalled that it was disposed of on April 14, 2003 and there was no overseas asset to be declared earlier than the ECP or FBR on the deadline for the respective assertion, which was June 30, 2003.

About Niazi Providers Ltd, Mr Khan defined that its account was opened on June 2, 1983 and the primary deposit of 5,833 kilos was made on the Lloyd’s Financial institution Jersey Department, which was acquired as royalty from Pelham Books.

A second cost of eight,333 kilos was acquired from Pelham Books in a distinct present account, opened with the identical department on June 22, 1983. A 3rd royalty cost of eight,334 kilos was acquired on Oct 10, 1983.

On Dec 14, 1983, a cost of three,102 kilos was acquired in NSL’s deposit account from the Nationwide Financial institution of Australia.

Consequently by Dec 1983, 22,500 kilos have been acquired from Pelham Books within the two Lloyd’s accounts.

From this quantity, the preliminary 10computer down-payment of 11,750 kilos was transferred on Dec 16, 1983 to the client’s solicitors.

A sum of kilos75,000 was remitted by Khan from a BCCI Cayman account into the NSL deposit account on March 7, 1984. This quantity included his cost from Kerry Packer and curiosity on the deposit account since 1979, on the fee of was 12 to 14computer each year.

The gross quantity got here to $132,000, which transformed to round 94,000 kilos.

Out of those deposits 56,000 kilos was transferred to the present account, from the place 49,000 kilos have been remitted to Mr Khan’s solicitors to pay the deposit for the flat, the reply stated.

Revealed in Daybreak, September 26th, 2017

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