A major legal development has unfolded in Karachi as a federal tribunal has dismissed benami property cases worth billions of rupees against the directors of the Omni Group.
The tribunal ruled that the Benami Transactions Act of 2017 cannot be applied to transactions conducted before its enactment, making the earlier actions legally unsustainable.
The two-member bench emphasized that extending the law to past dealings would exceed its legal scope. According to the judgment, any attempt to enforce the 2017 legislation retroactively would violate established legal principles.
The tribunal also clarified that assets declared under the 2019 Asset Declaration Ordinance cannot be targeted under the Benami Act. This affirmation strengthened the position that disclosures made under the amnesty scheme remain protected and cannot be revisited through subsequent legislation.
As a result, all confiscation orders previously issued in the case stand reversed. The decision effectively brings an end to a long-running chapter of investigations that had placed significant scrutiny on the Omni Group’s financial dealings.
Legal analysts say the tribunal’s ruling could influence several similar cases, as it reinforces the importance of non-retroactive application of laws and protections granted under asset declaration schemes. For the Omni Group, the verdict marks a decisive relief after years of legal uncertainty.
