OCA: IHC reserves verdict on lease termination

Construction of the complex event began by selling residential apartments, yet isn't ready to pay its fair due

ISLAMABAD: The Islamabad High Court reserved on Friday reserved its verdict in a case where builders of the One Constitution Avenue complex challenged the CDA’s decision to terminate their land lease deal.

Justice Athar Minallah reserved the verdict after all parties concluded their arguments. On Friday, CDA’s counsel, Iftikhar Gillani informed the court that the petitioners BNP had generated Rs6.33 billion before construction of the complex event began by selling 240 residential apartments, but was not ready to pay for the land’s or even furnish a bank guarantee.

In his arguments, the counsel said that the project was among 32 mega land scams which the NAB was investigating. He added that BNP obtained a Rs2.3 billion loan from Bank of Punjab while pledging the lease documents of the plot.

Published in The Express Tribune, January 28^th, 2017.