Agitated shareholders ransack UCBL head office
Wednesday, 9 December 2009
FE Report
A group of agitated shareholders of the United Commercial Bank Limited (UCBL) ransacked the head office of the bank Tuesday on the hearing issue of the writ petition in the Supreme Court, the bank and investors said.
"The lawyer of the bank was supposed to be present in the court to seek a decision of the Chief Justice for further hearing of the writ petition. But in absence of the bank's lawyer the matter was not mentioned before the court," the investors of the UCBL told the FE.
After returning from the Supreme Court the agitated investors went to the head office of UCBL situated at Motijheel Tuesday around 4 pm and damaged the room of the managing director and his secretary and the office lounge.
No case was filed till the writing of this report.
"The damage caused by the investors will bring no benefit for disposal of the writ petition, M. Shahjahan Bhuiyan, managing director of the UCBL told the FE.
"The Supreme Court will remain closed on December 17 and the Chief Justice will retire on December 23. In such a situation, if it is not mentioned by the Chief Justice for further hearing then, the hearing will take place afresh and it will take a long time for disposal of the writ petition," the investors also said.
The last trade of UCBL was held on August 6, 2008. The High Court delivered a verdict on June 11 relating the record date of the bank after a writ petition was submitted by Rezaul Karim. Then Abul Hashem, a director of the bank appealed against the verdict in the Supreme Court. Afterwards the matter was placed several times before the court for hearing. But due to lack of a full bench and non-response from the parties of the writ petition the hearing was not completed.
A group of agitated shareholders of the United Commercial Bank Limited (UCBL) ransacked the head office of the bank Tuesday on the hearing issue of the writ petition in the Supreme Court, the bank and investors said.
"The lawyer of the bank was supposed to be present in the court to seek a decision of the Chief Justice for further hearing of the writ petition. But in absence of the bank's lawyer the matter was not mentioned before the court," the investors of the UCBL told the FE.
After returning from the Supreme Court the agitated investors went to the head office of UCBL situated at Motijheel Tuesday around 4 pm and damaged the room of the managing director and his secretary and the office lounge.
No case was filed till the writing of this report.
"The damage caused by the investors will bring no benefit for disposal of the writ petition, M. Shahjahan Bhuiyan, managing director of the UCBL told the FE.
"The Supreme Court will remain closed on December 17 and the Chief Justice will retire on December 23. In such a situation, if it is not mentioned by the Chief Justice for further hearing then, the hearing will take place afresh and it will take a long time for disposal of the writ petition," the investors also said.
The last trade of UCBL was held on August 6, 2008. The High Court delivered a verdict on June 11 relating the record date of the bank after a writ petition was submitted by Rezaul Karim. Then Abul Hashem, a director of the bank appealed against the verdict in the Supreme Court. Afterwards the matter was placed several times before the court for hearing. But due to lack of a full bench and non-response from the parties of the writ petition the hearing was not completed.