HC issues rule on appointing receiver for Beximco assets

The High Court on Thursday issued a rule regarding the appointment of a receiver to oversee Beximco Group's properties following their confiscation.

The bench, led by Justice AKM Asaduzzaman and Justice Muhammad Mahbub-Ul-Islam, issued the rule in response to a writ petition, according to Deputy Attorney General (DAG) Redwan Ahmed Ranzib. 

Senior Supreme Court lawyer Masud R Sobhan represented the writ petitioner, while DAG Redwan and Assistant Attorney General Muzahidul Islam Shahin appeared for the state.

The court has questioned why Bangladesh Bank should not be instructed to provide details on the outstanding loans owed by Beximco Group companies. Additionally, the court asked why a receiver should not be appointed to manage the group's assets post-confiscation.

Bangladesh Bank's governor, the finance secretary, Beximco Pharmaceuticals Ltd, and Salman F Rahman, an adviser to former Prime Minister Sheikh Hasina, have been asked to respond to the rule within four weeks.

FH/MSU/NMA