ISLAMABAD, Nov 17: The Supreme Court on Monday vacated the stay order it had earlier granted against the opening of bids for Hayat Regency hotel in Karachi, and directed the SHC to decide the pending writ petition by Dewan Group within one month.

The bid for Hayat Regency hotel, would have to be opened in the court.

The Supreme Court bench, comprising Chief Justice Sheikh Riaz Ahmed, Justice Qazi Mohammad Farooq and Justice Abdul Hameed Dogar, vacated the interim order in the form of stay against the opening of the bids for the project, and directed the SHC to decide the writ petition within a period of one month.

The petitioner had approached the Sindh High Court with the request to restore the contract for the construction and running of the hotel in Karachi.

Senator S. M. Zafar appeared on behalf of Dewan Group owned by Yousaf Haroon and Saifullah Piracha, while senior advocate Abdul Hafeez Pirzada represented Pakistan Banking Council chairman.

Dewan Group got the contract of constructing the hotel at a cost of Rs220 million on a land initially owned by Pakistan Railways and handed over to Pakistan Banking Council (PBC).

The group planned to construct the hotel with the cooperation of Hayat Regency hotel, but they failed to pay the minimum amount within specified period according to the agreement.

The Pakistan Banking Council constituted custodian of Karachi hotel project to supervise the work and fresh auction was announced by the custodian and received a number of offers in this regard.