SC to hear SEC's appeal on margin loan Thursday

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FE Report
The Chamber Judge of the Supreme Court (SC) has referred the SEC's appeal petition, filed against the High Court's stay on NAV-based margin loan calculation, to the full court of the appellate division.
After hearing, the Chamber Judge Muzammel Haque Monday referred the case to the bench of Chief Justice A B M Khairul Haque.
The court has fixed the hearing on SEC's appeal on Thursday next.
At the Chamber Court Barrister Rokon Uddin Mahmud, Barrister Fazle Noor Taposh and Barrister Abul Kalam Azad moved on behalf of the petitioners. Attorney General Mahbubey Alam represented the SEC.
On September 27, two investors filed a writ petition challenging the SEC's directive regarding the NAV-based margin loan calculation.
After the hearing, a division bench of the High Court stayed the SEC's directive for three months and asked the SEC to explain why its directive will not be declared illegal.