SC bars appointing receiver for Beximco Pharma

The Appellate Division of the Supreme Court (SC)
today barred appointing a receiver for Beximco Pharmaceuticals Ltd as it
stayed part of the High Court (HC) order passed in this regard.

“Disposed of, stay,” said the order passed by the three-member apex court
bench headed by Justice Md Ashfaqul Islam.

The SC, in its order, also asked the High Court division bench led by Justice
Farah Mahbub to hear and dispose of a rule issued regarding the Beximco Group
of Companies. Until the rule is disposed of, the appointment of a receiver
for Beximco Pharmaceuticals Ltd will remain stayed.

The High Court order on appointing a receiver to manage the other companies
of Beximco Group and attach their properties will, however, be maintained.

Senior Advocate Masood R Sobhan took part in the hearing for a writ petition
filed in this regard while Advocate Fida M Kamal and Barrister Mostafizur
Rahman Khan argued for Beximco Pharmaceuticals Ltd. Advocate Md Moniruzzaman
stood for Bangladesh Bank (BB).

The High Court on September 5 ordered to appoint a receiver to conduct the
functions of the Beximco Group of Companies. (BSS)