Issuing a detailed written judgment in the One Constitution Avenue case, Islamabad High Court dismissed the petition of BNP (Private) Limited against the cancellation of the lease.
The court declared the lease cancellation order issued by the Capital Development Authority (CDA) on March 8, 2023, as legal, saying that this move was in line with the orders of the Supreme Court. The judgment was written by Chief Justice Muhammad Sarfaraz Dogar.
According to the court judgment, the execution petition filed by BNP Limited was also dismissed, while the applications of third parties, namely investors, were also disposed of. The court ruled that investors can approach the relevant forums to obtain their rights.
The judgment said that the petitioner company failed to fulfill the financial conditions set by the Supreme Court, especially the non-deposit of Rs 2.916 billion of the 2022 installment. According to the court, the “lifeline” opportunity given to the petitioner by the Supreme Court was also not used.
The court further said that after several reminders, the CDA issued a notice on February 7, 2023 and then ordered the cancellation of the lease on March 8, 2023, which was completely in accordance with the legal requirements. The court also rejected the technical objection regarding the 30-day notice.
The judgment also clarified that the Supreme Court had restored the lease on January 9, 2019 and ordered the payment of Rs 17.5 billion in 8 years, however, BNP Limited defaulted in the payment of the 2022 installment despite submitting the 2021 installment.
The court also rejected the cheque of Rs 500 million presented by the petitioner as insufficient.
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