The Appellate Division stayed the decision to appoint a receiver in Beximco Pharmaceuticals Ltd. However, apart from this, the High Court’s order to appoint receivers in other companies of Beximco Group will remain in force, the order said. At the same time, the court directed the division bench headed by Justice Farah Mahbub of the High Court to dispose of the rule issued on the appointment of the receiver within two weeks.
On Tuesday (November 12), the senior judge of the Appellate Division, Justice Md. A three-judge bench led by Ashfaqul Islam gave this order.
The court fixed today for the order after hearing Beximco Pharmaceuticals Limited’s leave to appeal (seeking permission to appeal) against the High Court’s order appointing a receiver to look after all the assets of the Beximco Group.
Earlier, the Supreme Court’s senior advocate Masud R Sobhan filed a writ petition in this regard. After hearing the writ petition on September 5, the High Court bench consisting of Justice AKM Asaduzzaman and Justice Muhammad Mahbub-ul Islam issued an order.
The order ordered the appointment of a receiver to look after all the assets of the Beximco Group. It has also been asked to attach all the properties of the group for six months. In that order given to Bangladesh Bank, Salman F Rahman has been ordered to recover money from various banks and return money from abroad. It was asked to report in this regard within four weeks.
Besides, it has issued rules to provide information of all the companies of Beximco Group, the amount of unpaid loans in various financial institutions, the current status of the loans and the appointment of receivers to take care of all the properties of Beximco Group and to attach the properties. Within four weeks, Bangladesh Bank Governor, Finance Secretary, Beximco Pharmaceuticals Limited, former Member of Parliament and former Prime Minister’s Advisor and founder of Beximco Pharmaceuticals Limited Salman F Rahman have been asked to respond to the ruling.
Beximco Pharmaceuticals Limited appealed to the Appellate Division against this order. Then the judge of the Appellate Division. The court of Chambers Judge Rezaul Haque referred the petition to the full bench for hearing. As a result, today it came up for hearing on Monday (November 11).
