They termed it 'unfortunate' and 'regrettable' and two eminent persons said should a defamation case have been filed, it should have been against the BOI Executive Chairman Mahmudur Rahman for making defamatory statements.

Former adviser to the caretaker government M Hafiz Uddin Khan observed that Mahmudur Rahman should be charged for terming the CPD a 'conspirator and lair'.

According to him, the prominent citizens against whom cases have been filed are very respectable persons and are not likely to hatch conspiracy. "I have heard the statements made at the CPD conference over television and read about it in newspapers, but I did not find anything defamatory, he said.

"It is very unfortunate that it went to such an extreme level," said Mir Nasir Hossain, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

He said differences of opinions may occur but everybody should handle such things carefully. He said the flow of investment to the country increased but it might be low compared to other countries.

"It definitely comes as a surprise and it is regrettable that the warrant of arrest had been issued against eminent citizens of high standing on the alleged defamation issue," said Latifur Rahman, president of the Metropolitan Chamber of Commerce and Industry (MCCI).

"We condemn the case as it would disrupt free thinking," said Quazi Kholiquzzaman Ahmad, president of the Bangladesh Economic Association.

The filing of the case was not a right action as any difference of opinion should be tackled with counter arguments. So the case should be withdrawn, he stated.

"The arrogant behaviour of Mahmudur Rahman at the fag end of power reflects a fascist mentality," said Abul Barakat, general secretary of the Bangladesh Economic Association.

Barakat said Mahmudur should seek apology and withdraw the case.

Khondoker Ibrahim Khaled managing director of Pubali Bank said the case is a bad signal because it was filed against some eminent persons.

The issuance of arrest warrant against such persons is a threat to democracy, free thinking, civilization and as well as to the country itself, he said.

Research director of the Bangladesh Institute of Development Studies Zaid Bakht said: "I thought Rahman was an intelligent person but he showed callousness by filing a case against persons like Rehman Sobhan and Monzur Elahi who are highly respected in the society and also performed as members of the caretaker government. What I understand by reading the statements made by both parties, the case should have been filed against Mahmudur."