The Appellate Division of the Supreme Court (SC) on Tuesday barred appointing a receiver for Beximco Pharmaceuticals Ltd as it
stayed part of the High Court (HC) order passed in this regard.
 
"Disposed of, stay," said the order passed by the three-member apex court bench headed by Justice Md Ashfaqul Islam.
 
The SC, in its order, also asked the High Court division bench led by Justice Farah Mahbub to hear and dispose of a rule issued regarding the Beximco Group of Companies. Until the rule is disposed of, the appointment of a receiver for Beximco Pharmaceuticals Ltd will remain stayed.
 
The High Court order on appointing a receiver to manage the other companies of Beximco Group and attach their properties will, however, be maintained.
 
Senior Advocate Masood R Sobhan took part in the hearing for a writ petition filed in this regard while Advocate Fida M Kamal and Barrister Mostafizur Rahman Khan argued for Beximco Pharmaceuticals Ltd. Advocate Md Moniruzzaman
stood for Bangladesh Bank (BB).
 
The High Court on September 5 ordered to appoint a receiver to conduct the functions of the Beximco Group of Companies.