TDS Desk

The Appellate Division of the Supreme Court has stayed the appointment of a receiver to manage Beximco Pharmaceuticals Ltd.

However, the court upheld the High Court’s decision to appoint receivers for other companies within the Beximco Group.

A three-judge bench of the Appellate Division led by Justice Md Ashfaqul Islam passed the order on Tuesday.

The Appellate Division directed the High Court division bench, headed by Justice Farah Mahbub, to resolve the issue of the receiver’s appointment within two weeks.

Earlier, on Monday, the Appellate Division set Tuesday to pass its order on a civil petition filed on behalf of Beximco Pharmaceuticals Ltd, challenging the High Court order to appoint a receiver to conduct the functions of the Beximco Group of Companies.

Senior advocate Masood R. Sobhan participated in the hearing for a writ petition filed in this regard, while Advocate Fida M. Kamal and Barrister Mostafizur Rahman Khan represented Beximco. Advocate Md. Moniruzzaman appeared on behalf of Bangladesh Bank.

On 5 September, the High Court ordered the appointment of a receiver to oversee the operations of the Beximco Group of Companies.