KATHMANDU: The Nepal Trust has warned the Concept Developers to evacuate Kathmandu Plaza within a week or be ready to face legal action.
According to the Nepal Trust sources, the Trust had sent the notice earlier too, yet, the company has been denying to abide by the agreement reached before.
The contract between the Trust and the Concept Developers expired on June 17, however, instead of evacuating the place, the company went to Supreme Court seeking the latter’s facilitation in getting the building contract renewed.
Then Royal Palace had reached an agreement with the Concept Developers on June 17, 1993, however, after the death of then King Birendra and Queen Aishwarya, the ownership of the land had been transferred to the Nepal Trust.
The contract was renewed on January 7, 2010 at the Nepal Trust’s consent even after the ownership transfer.
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