SC Allows Govt-Approved Directors to Rejoin Beximco Firms

Published On March 5, 2025
12:35 pm

Total Views: 0

Industry: Healthcare & Pharma, Pharma

Company: Bangladesh Export Import Company Ltd. (BEXIMCO)

The Appellate Division of the Supreme Court has allowed independent directors appointed by the Bangladesh Securities and Exchange Commission (BSEC) to resume duties at Beximco, Beximco Pharmaceuticals, and Shinepukur Ceramics. The decision follows a three-week stay on the High Court orders that had halted their appointment on January 15. The BSEC had appointed 11 independent directors on December 31, 2023, based on recommendations from the Financial Institutions Division (FID). The High Court had issued rules questioning the legality of this decision after the three companies filed writ petitions. The Supreme Court’s ruling removes legal barriers for the independent directors to take office. The move follows labour unrest at Beximco Industrial Park after the arrest of Beximco Group Vice Chairman Salman F Rahman. The case was presented by Attorney General Md Asaduzzman and Barrister Abul Kalam Azad for BSEC, while Barrister Fida M Kamal and Barrister Kamal Ul Alam represented the companies.

Source for more details:

The Daily Star

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