ISLAMABAD - While allowing the Multi-Professional Cooperative Housing Society (MPCHS) to pursue the remedy for recovery of amount spent on the development of land, the Supreme Court has directed Capital Development Authority (CDA) to takeover the possession of 54-acres of land located in Northern Strip of Sector E-11. A two-member bench of the apex court headed by Chief Justice Iftikhar Muhammad Chaudhry and comprising Justice Ghulam Rabbani Friday announced its reserved judgement in a suo moto case regarding controversial joint venture agreement between CDA and MPCHS for development of land in Sector E-11 The court orders say, Thus, after looking at from every angle, the transaction appears to be a shame deal. The whole exercise appears to be an eyewash... The court also observed that CDA defined rules and regulations did not allow the Authority to enter into such deals. Under the agreement that was signed during the tenure of former CDA Kamran Lashari under public-private-partnership, the stretch of 54 acres in northern side of E-11 was being developed by the CDA and MPCHS to turn it into a new commercial area on the lines of Blue Area. Under the Northern Strip agreement, CDA was entitled to get 72 per share in developed land, including roads and public service plots, while the housing society was to get 28 per cent saleable land. Started in March last year, the SC took suo moto notice against the CDA on a news report that accused it of irregularities in the project. Under the agreement, the housing society has got vacated CDAs 54 acres land in northern side of Islamabad between sector E-11 and Margalla Hills from encroachers, reportedly paying them Rs1 billion, and also spent Rs190 million in development cost. The plots to be carved out in the strip would be shared by the housing society and CDA. According to judgment, clause (iv) of regulation 4(1)A of the Regulation is declared to be inconsistent with sections 12 and 13 read with section 2(a) & (j) and consequently the JVA entered with MPCHS is rendered inoperative and ineffective qua CDA. The CDA Board is directed to takeover the project and complete the same in accordance with the provisions of the (CDA) Ordinance, the court order hold. The Chairman CDA shall ensure implementation of the above direction and submit compliance report within a period of one month from the date of this judgment, the court order compelled the civic bodys chief. Zulfiqar Malooka, the lawyer of the housing society, earlier had defended the joint agreement and contended that three chairmen of CDA could not find anything wrong in the agreement. The society had invested Rs1.8 billion in the venture. Akram Sheikh, appeared as amicus curiae, contended that there was not a provision in the Ordinance authorising a private party to undertake a sectoral development. Terming it a bigger scam, he said trillions of rupees were involved in it. He claimed that owner of the Society AU Farooqi was the Cabinet Secretary when the agreement was reached.