EOBI multi-billion scam: SC directs parties to appear with proper preparation of case.

ISLAMABAD -- The Supreme Court on Tuesday directed all the parties in the Employees Old-age Benefit Institution (EOBI) corruption case to appear before the court with proper preparation.

A three-member SC bench comprising Chief Justice of Pakistan Umar Ata Bandial, Justice Ayesha A Malik and Justice Athar Minallah heard the suo moto notice case. Former SC chief justice Iftikhar Muhammad Chaudhry had taken the suo moto notice of the multi-billion scam in which the then EOBI chairman Zafar Iqbal Gondal and other officials were accused of investing huge sums in housing schemes and purchasing vehicles in various cities without the approval of the institution's board of directors.

During the course of proceedings, EOBI's counsel said the Institution had decided to retain the properties. He said that the sellers should also pay additional purchase price and markup to the property selling agency.

To this, the Chief Justice said that the issues were the purchase of properties with public funds.

The counsel...