SC stays restraint order on Pubali Bank chief, director
The Supreme Court today stayed till December 8 a High Court directive that had restrained Pubali Bank Ltd’s Chairman Habibur Rahman and its Director Kabiruzzaman Yakub from discharging duties for the bank.
Chamber judge of the Appellate Division of the SC Justice Syed Mahmud Hossain passed the order following a petition filed by Habibur and Kabiruzzaman seeking stay on the HC order.
The judge also sent the stay petition to the full bench of the apex court for its hearing on December 8.
There is no legal bar for Habibur and Kabiruzzamn to discharge their duties till further order of the SC, their lawyer Barrister Mehedi Hasan Chowdhury told The Daily Star.
Following a writ petition, the HC on November 30 restrained Habibur and Kabiruzzaman from discharging as chairman and director respectively of Pubali Bank till January 5 next year.
Pubali Bank’s depositor Rafatul Islam and shareholder Abdul Awal submitted the petition saying a complaint has been filed with Bangladesh Bank against Habibur and Kabiruzzaman of a committing scam of loan worth around Tk 100 crore by illegally approving loan for their Chandra Spinning Mill, its reschedule and exemption of its interest.
But, the Bangladesh Bank is yet to take any step against Habibur and Kabiruzzaman, the petitioners said, adding that Habibur and Kabiruzzaman have taken loan as organising directors and managing directors of Chandra Spinning Mill by using influence.
On November 15, the meeting of the board of directors of the bank decided to reschedule the loan for Chandra Spinning Mill without any down payment, the petitioners said.
Habibur and Kabiruzzaman recently filed a petition with the SC seeking stay on the HC order.
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