Justice Sheikh Azmat Saeed and Justice Ijaz-ul-Hasan gave this decision at Supreme Court Registry Lahore on Friday.
The Apex Court also directed Railways office to take administration control of royal palm with immediate effect.
Minister for Railways Sheikh Rashid Ahmed has welcomed the judgement of Supreme Court regarding Royal Palm agreement.
He said the tender of Royal Palm Club will be issued in three months as per decision of the court.
He renewed the pledge to steer Railways out of deficit within five years.
