Home ›› 14 Jul 2020 ›› World Biz
The High Court (HC) has upheld a Bangladesh Bank (BB) order that fined One Bank Tk 10 lakh on charges of violating Section 15(4) of the Bank Company Act 1991 and keeping its chairman Sayeed Hossain Chowdhury as a director of the bank.
The virtual High Court bench of Justice Abu Taher Md Saifur Rahman passed the order on Monday (July 13).
Confirming the matter to The Business Post on Tuesday, Barrister Khairul Alam said, “The High Court rejected the writ filed against Bangladesh Bank order.”
Earlier on July 9, the High Court started hearing on a writ petition filed by One Bank challenging a BB letter. Later, the High Court bench of Justice Abu Taher Md Saifur Rahman fixed July 13 for hearing and passing order on the petition.
On July 6, BB removed Sayeed Hossain Chowdhury from the board of directors of One Bank for reasons of loan defaults. In August 2019, Sayeed Chowdhury was elected chairman of One Bank. He had served the bank as chairman more than one time.
According to the Banking Companies Act, defaulters cannot hold the posts of director and chairman of any bank. Though, some defaulters have remained as directors of banks with court orders.
