Monday, 17 February 2020

Hussain submits papers to establish flats ownership

Hussain-Nawaz

ISLAMABAD: Prime minister’s elder son on Wednesday submitted two documents in the apex court to establish that he was the beneficial owner of the two companies Nescoll and Neilsen, which own Avenfield Apartments, while Mariam Safdar was only a trustee.

Hussain Nawaz and Hassan Nawaz’s counsel Salman Akram Raja during the hearing had requested the three-member bench headed by Justice Ejaz Afzal to allow him to produce the documents.

The documents, which were filed in the Supreme Court, are the letters from directors, Minerva Holdings Limited, and the JPCA.

Umesh Sahal, director, Minerva Holdings Limited, had written a letter to Hussain Nawaz dated 20th December 2016.

It referred to Hussain Nawaz’s letter of 19th December 2016 regarding a meeting “we had at your brother’s office in London in early 2006.”

The letter confirmed that the meeting took place sometime in early 2006 following Minerva Trust and Corporate Services Limited takeover of the management of Nescoll Limited and Nielsen Enterprises Limited on 26th January 2006.

The second letter is from GAJ Gardner, director JPCA, dated February 15, 2017, saying that the JPCA Limited held discussions and meeting with Hussain Sharif, “already a long-time client of ours in 2014 at which we discussed our accepting the secretarial administration of Nescoll Limited and Nielsen Enterprises Limited, two companies which had, up to that time, been managed and run by Minerva Financial Services of Jersey (CI). This was agreed and secretarial administration of the companies was transferred from Minerva to JPCA on 2nd June 2014, since when they have remained with us.”

These discussions and meetings took place with Hussain Sharif in his capacity as beneficial owner of Nescoll and Nielsen enterprises under the terms of a declaration of trust signed by Mariam Safdar of Lahore, Pakistan on February 2, 2006 as trustee holding the entire share capital of those companies on trust for Mr Sharif as sole beneficiary, the letter states.

The letter further reads, “We further confirm that the JPCA Limited has never met with Mrs Safdar, nor have we taken any direct instruction from her in matters relating to either Nescoll Limited or Nielsen Enterprises Limited.”

The JIT report has declared Mariam Safdar as the beneficial owner of the Nescoll Limited or Nielsen Enterprises Limited on the basis of the confirmation of the correspondence between Errol George director Financial Investigative Agency British Virgin Island and Director Money Laundering Mossack Fonseca Nibeth Nuduro.

The letter further reads, “We further confirm that the JPCA Limited has never met with Mrs Safdar, nor have we taken any direct instruction from her in matters relating to either Nescoll Limited or Nielsen Enterprises Limited.”

The JIT report has declared Mariam Safdar as the beneficial owner of the Nescoll Limited or Nielsen Enterprises Limited on the basis of the confirmation of the correspondence between Errol George director Financial Investigative Agency British Virgin Island and Director Money Laundering Mossack Fonseca Nibeth Nuduro.

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