8 Pubali directors lose post for inadequate share

The posts of eight Pubali Bank directors including its chairman were declared vacant by the High Court today for not having required two percent share of the bank.

The eight are: Hafiz Ahmed Majumder, Md Faizur Rahman, Ahmed Shafi Chowdhury, Fahim Ahmed Faruk Chowdhury, M Kabiruzzaman Yakub, Romana Sharif, Suraiya Rahman and Azizur Rahman.

An HC bench of Justice MR Hasan came up with the verdict after rejecting a petition filed by the directors.

They submitted the petition on August 20 last year challenging the decision of the Election Commission (EC) of Pubali Bank to declare them disqualified for contesting the election for the posts of director of the bank.

On August 14 last year, the EC declared them disqualified as they did not have required two percent share in the bank.

The HC on August 20 stayed the EC decision and issued a rule upon the commission to explain why the decision should not declared illegal.

After holding hearing on the rule, the HC today delivered the verdict.

The petitioners’ counsel Akter Imam told reporters that his clients will file an appeal with the SC challenging the HC verdict.