The Islamabad High Court (IHC) has dismissed a petition filed by BNP (Bismillah group) Private Limited against the cancellation of its lease in the One Constitution Avenue case, according to a detailed written judgment issued by the court.
Islamabad High Court released a detailed verdict in the One Constitution Avenue case, confirming the cancellation of the lease for the multi-billion-rupee project.
In its ruling, the IHC upheld the March 8, 2023, order of the Capital Development Authority (CDA), declaring the lease cancellation lawful and in line with the directives of the Supreme Court. The judgment was authored by Chief Justice Muhammad Sarfaraz Dogar.
According to the ruling, the execution petition filed by BNP Limited was also dismissed, and applications submitted by third parties, including investors, were disposed of. The court stated that investors are free to approach the appropriate forums to seek relief.
The judgment noted that the petitioner company failed to meet the financial conditions set by the Supreme Court, particularly by not depositing Rs 2.916 billion for the 2022 instalment. The court observed that the lifeline opportunity granted by the Supreme Court was not utilised.
It further stated that after several reminders, the CDA issued a notice on February 7, 2023, and subsequently cancelled the lease on March 8, 2023, in full compliance with legal requirements. The court also rejected the petitioner’s technical objection regarding the 30-day notice period.
The decision clarified that the Supreme Court had restored the lease on January 9, 2019, with directions to pay Rs 17.5 billion over eight years. However, BNP Limited defaulted on the 2022 instalment, despite having paid the 2021 instalment.
The court also found the cheque of Rs 500 million submitted by the petitioner to be insufficient and dismissed the petition.
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