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.
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 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.
Earlier, The Islamabad High Court had dismissed multiple petitions related to the one constitution avenue apartments, backing the Capital Development Authority’s (CDA) decision to terminate the lease over non-payment of dues.
In 2005, the Capital Development Authority leased 13.5 acres of land near the Jinnah Convention Centre for the development of a five-star hotel. M/s BNP secured the project with the highest bid of Rs. 4.882 billion.
However, CDA handed over possession after receiving only 15% of the initial payment. This arrangement later led to repeated payment defaults and multiple rescheduling efforts.
Despite being granted revised payment plans and several opportunities to comply, BNP failed to meet its financial obligations.
The project became further entangled in legal issues after apartments and commercial units were sold or subleased to third parties, creating additional claims on the property.
Also Read: Rs14.58 billion default: Why one constitution avenue apartments were evacuated?
