HC orders \\\'fair\\\' buyback for Annisul Huq

The High Court has ordered Annisul Huq, chairman of the board of directors at Desh Energy, to buyback shares from its two founders at a ‘fair’ price. Justice Md Rezaul Hasan delivered the verdict on Monday. Annisul Huq and his associates have been ordered to buy the shares of plaintiffs Nuher Latif Khan and Shahpar Saba for a ‘fair price’, said Barrister Akhtar Imam, who represented the siblings, on Monday. ‘We pleaded the court to order the majority shareholders to buy the 20 per cent shares by the plaintiffs and also release them from all personal guarantees with the bank. The court has granted our plea,’ he said. ‘The respondents have been directed to purchase the shares, after getting their values inspected by an independent audit firm, within 90 days of receiving the copy of the court order.’ The High Court will also assign an audit firm while delivering the full copy of the verdict, the lawyer said. Huq’s lawyer Md Mehedi Hasan said they will appeal against the verdict, according to bdnews24.com.