The High Court of Bangladesh has directed Bangladesh Bank to appoint a receiver to manage all companies under Beximco Group and attach its properties. The court also ordered the recovery of funds allegedly siphoned off by a corporate adviser linked to the former prime minister. A compliance report is due within four weeks. The orders came after a public interest writ petition, as the adviser is currently in jail following his arrest on August 13 while attempting to flee. The court ruled that Bangladesh Bank must provide information on Beximco Pharmaceutical Limited and any unpaid loans obtained by the adviser, along with their repayment status. It also requested the appointment of a receiver for six months to oversee Beximco’s business concerns. Despite the legal developments, the court clarified that employees of Beximco Group would still receive their salaries and allowances. The adviser, who has a history of financial misconduct allegations, was arrested in connection with a murder case, not for financial issues.
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