Receiver will not be appointed to Beximco Pharma: SC

A receiver will not be appointed to conduct the functions of Beximco Pharma, the Appellate Division of the Supreme Court has ordered. However, there is no bar to appoint receivers to other organisations under the Beximco Group. 

The three-member apex court bench headed by Justice Md Ashfaqul Islam passed the order. The bench also ordered the High Court to resolve the rule in this regard within the next 2 weeks. 

The High Court on September 5 ordered to appoint a receiver to conduct the functions of the Beximco Group of Companies. Later a civil petition was 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 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. Advocate Md Moniruzzaman stood for Bangladesh Bank. The date for passing the order was fixed as 12 November.