SC stays rule to close Destiny group

The Supreme Court (SC) yesterday stayed for four weeks a High Court (HC) rule that asked authorities concerned to explain why they should not be directed to close down Destiny 2000.

The apex court passed the order following a petition filed by Lt Gen (retd) Harun-Ar-Rashid, one of the seven directors of the company, seeking a stay on the HC rule.

A three-member bench of the Appellate Division headed by Chief Justice Syed Mahmud Hossain also directed Harun-Ar-Rashid to submit a leave to appeal petition before the SC within four weeks challenging the HC rule.

On May 15, HC issued the rule asking Destiny 2000 to show causes as to why the company should not be directed to wind it up, as there is no director available to run its operations.

The group's irregularities surfaced in early 2012 after the central bank found that it had been involved in illegal banking.

The Anti-Corruption Commission in 2012 filed two cases against 22 officials of Destiny Group for laundering Tk 4,200 crore.

On August 24, a Dhaka court framed charges against 51 including Lt Gen (retd) Rashid in the two cases.