HC asks why govt won’t appoint receiver to manage Beximco

The High Court on Thursday issued a rule asking authorities concerned with the government to explain in four weeks why they should not be directed to appoint a receiver to manage the companies of Beximco group and to attach their properties.

The court asked them to show cause why they should not be directed to provide information about the unpaid loan of Beximco Pharmaceuticals Limited and to rescind the loan waiver given to this company.

The HC bench of Justice AKM Asaduzzaman and Justice Muhammad Mahbub-Ul Islam issued the rule following a writ petition filed by Supreme Court lawyer Masood R Sobhan seeking necessary directives.

Deputy Attorney General Redwan Ahmed Ranjeev confirmed the matter to reporters.

The court also sought to know why the Bangladesh Bank should not be instructed to disclose the amount of outstanding loans of the Beximco Group.

During the hearing, the HC also wanted to know the amount of money smuggled by the group.

The governor of Bangladesh Bank, the finance secretary and the others concerned have been asked to respond to the rule within four weeks.

At the hearing, Advocate Masood R Sobhan appeared for the petitioner, while Deputy Attorney General Redwan Ahmed Ranjib and Assistant Attorney General Mujahidul Islam Shaheen represented the state.