RAWALPINDI – Business tycoon of Pakistan, Malik Riaz, can not use the brand name ‘Bahria’ any longer as court accepts the petition filed by Bahria Foundation to to restrain Malik Riaz from using this name for his projects, PakistanTribe reported.
Malik Riaz was using the name Bahria (naval) for his private housing scheme since 1996. An agreement was signed with Bahria Foundation for using the brand name on 10 percent shares.
Later in 2002, Bahria Foundation asked Malik Riaz not to use this brand name any more, meanwhile Malik Riaz had initiated the project run by its own ‘Hussain Global’ which was established to work on ‘Bahria Town’, a housing scheme.
In 2002, Malik Riaz obtained stay orders from court and continuing expanding his housing project in different cities of Pakistan and has sold a massive number of housing and commercial units.
Finally the court has ordered Malik Riaz no to use this brand name any more.
However Riaz’s legal adviser, Qaiser Qadeer Qureshi, said that so far the court announced a short order and are awaiting a detailed verdict.
“After examining that, Bahria Town will file an appeal,” Qaiser said.
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