Staff Reporter :
The High Court (HC) has ruled that Beximco Group will continue its operations under its own management.
The ruling was issued on Wednesday by a HC bench consisting of Justice Farah Mahbub and Justice Debashish Ray Chowdhury, who disposed of a rule on the matter.
Senior lawyer Ruhul Quddus and lawyer Barrister Muniruzzaman represented the Bangladesh Bank in the court. Senior lawyer Fida M. Kamal and lawyer Anisul Hasan represented Beximco Pharmaceuticals.
The petition was represented by Senior Lawyer Barrister Masud A. Sobhan.
After the ruling, senior lawyer Ruhul Quddus informed the media that, following a public interest petition filed on August 5, the High Court had ordered the Bangladesh Bank on September 5 to appoint a receiver for all Beximco Group entities.
Subsequently, Beximco Pharma filed an appeal, and the Appellate Division modified the High Court’s order, allowing only Beximco Pharma to continue under its own management.
The Bangladesh Bank had appointed receivers for the remaining entities. After hearing the matter in the High Court, the rule was disposed of on Wednesday. The court ruled with nine observations, and the receivership was terminated.
The management of these companies will now be handled by their own teams. However, the court stated that these companies will remain under the supervision and monitoring of regulatory bodies such as Bangladesh Bank, in accordance with the law.
Lawyer Barrister Muniruzzaman said the court had confirmed that all actions taken by the receivers up until now were legally valid.
Earlier, senior lawyer Masud A. Sobhan filed a writ petition in the Supreme Court on this issue.
After hearing the petition, the High Court bench of Justice A.K.M. Asaduzzaman and Justice Muhammad Mahbub-ul-Islam issued an order on September 5, instructing the appointment of a receiver to oversee all of Beximco Group’s assets and ordering the attachment of the group’s assets for six months.
