Islamabad: Islamabad High Court (IHC) has released written decision of one constitution avenue project case.

IHC has rejected the plea against revocation of lease of BNP (Private) Limited .

The court declared the order issued by CDA on March 8, 2023 regarding cancellation of lease as legal.

Chief Justice (CJ) of IHC Muhammad Sarfraz Dogar issued the written order.

The petition dismissed the execution petition filed by BNP .

The court wrapped up the petitions of third respondent (Investors) .

IHC said in its decision the investors can resort to the proper forum regarding their rights. The petitioner did not uphold the financial conditions set by Supreme Court (SC).

The court said in the decision the petitioner (company) failed in depositing first installment of Rs 2.916 billion of 2022. Therefore, cancellation of lease by CDA is in line with the right given by SC.

The court rejected the objection from petitioner in regard to technical mistake of 30 days notice.

The SC while restoring lease on January 9, 2019 had ordered to pay Rs 17.5 billion within 8 years.

BNP limited deposited installment for 2021 and it defaulted on payment of installment for 2022.

CDA issued notice on February 7, 2023 after repeated reminders and later issued order for cancellation of lease on March 8.

The court declared insufficient the cheque for Rs 50 crore from petitioner.