CDA board rules out any settlement in Grand Hyatt Hotel case.

ISLAMABAD -- The Capital Development Authority board has decided to reiterate its earlier stance in the case of Grand Hyatt Hotel and declined to go for any settlement with M/s BNP.

In January last year, the Supreme Court had reversed the Islamabad High Court's order which upheld the July 2016 cancellation of a plot meant for the Grand Hyatt Hotel by the Capital Development Authority over violations of building by-laws.

Through its lawyer Barrister Syed Ali Zafar, BNP in December last year had offered that they were ready to pay the Capital Development Authority Rs15 billion for regularisation of the plot over a 20-year period, on the assurance that an ongoing inquiry by the National Accountability Bureau (NAB) would be dropped and they would be permitted to utilise the land for commercial ventures without any interference or restrictions from the Capital Development Authority.

However, the company's proposal was rejected by the Authority at the time.

Later, the apex court gave BNP eight years to complete the payment of Rs17.5 billion in instalments for the plot's lease to Capital Development Authority.

However, Capital Development Authority as well as BNP had filed review petition against the said decision and resultantly now once again the apex court has asked civic body to...