Why should receiver not be appointed in all Beximco Group institutions, asks HC

The High Court issued a ruling on Thursday (5 September) asking why the government will not order the appointment of a receiver to manage all Beximco Group institutions.

The HC bench of Justice AKM Asaduzzaman and Justice Muhammad Mahbub ul Islam gave the order after hearing a writ petition. At the hearing, Advocate Masood R Sobhan appeared for the petitioner, while Deputy Attorney General Redwan Ahmed Ranjib represented the state.

The court also asked why Bangladesh Bank should not be directed to disclose the total outstanding loans of the Beximco Group.

During the hearing, the High Court sought information on the amount of money allegedly smuggled by the group. Additionally, a ruling was issued asking why a receiver should not be appointed to seize all assets of the Beximco Group. Bangladesh Bank has been directed to respond to the ruling within four weeks.

Salman F Rahman, vice chairman of Beximco Group and a former adviser on private industry and investment to ex-Prime Minister Sheikh Hasina, was arrested in a murder case after Sheikh Hasina left the country because of the student uprising. He is now in jail.