SEC to appeal against HC's MF verdict

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FE Report
Securities and Exchange Commission (SEC) supplied their lawyer necessary documents to appeal in the Appellate Division against the High Court's (HC) mutual funds (MF) verdict, one SEC member said Monday.
"Today Advocate Mahmudul Islam has not gone to the Appellate Division. He can go within two days to appeal against the verdict," a
source of High Court said.
"It is a matter of our lawyer. We have authorised him to go to the Appellate Division, and he will do it duly," SEC chairman Md Ziaul Haq Khandaker told the FE Monday.
"Without having the copy of the verdict we cannot comment on it. Our lawyer is taking preparation to appeal against the High Court verdict," SEC member Md Anisuzzaman said.
The High Court Sunday allowed the mutual funds to increase their size by issuing bonus and rights shares, without curbing the securities regulator's absolute power to determine which funds would be eligible to expand their capital base and which not.
At the same time the court has suspended "operation of the judgment" for a week, allowing the SEC enough time to appeal against the verdict in the Supreme Court.