HC vacates 8 posts of directors in Pubali Bank
Tuesday, 25 February 2014
Eight posts of directors in Pubali Bank have been vacated by the High Court because of non-compliance with share holding regulations.
The eight posts are that of Chairman Hafiz Ahmed Mazumder, directors Muhammad Faizur Rahman, Ahmed Shafi Choudhury, Fahim Ahmed Faruk Chowdhury, Muhammed Kabiruzzaman Yaqub, Rumana Sharif, Suraiya Rahman and Azizur Rahman.
High Court Justice Md Rezaul Hasan gave the order to vacate their posts since they did not have minimum 2 per cent share of the bank, which has been made mandatory by the Bangladesh Securities and Exchange Commission (BSEC).
The eight directors were declared ineligible by the bank’s election commission because they did not have minimum 2 per cent share, according to a news agency.