Judge dissatisfied over non-appointment of senior lawyer

Judge of Special Tribunal on capital market expressed his displeasure again on Thursday over non-appointment of a senior lawyer by the securities regulator to strengthen the prosecution.
Judge Humayun Kabir expressed his dissatisfaction during the arguments taken in a case filed in connection with manipulation of share prices of Chic Tex in 1996.
Earlier on August 9 last, the Judge also articulated his discontent concerning non-appointment of a senior lawyer in the prosecution.
Tribunal sources said the Judge said the regulator was asked to depute a senior lawyer at least for arguments of the cases.
The Bangladesh Securities and Exchange Commission (BSEC) said they are trying to depute a senior lawyer for the prosecution.
"Most of the lawyers have cases in the Judge Court. They are unable to work in Tribunal in favour of prosecution as judicial functions go on at the same time both in Tribunal and Judge Court," said A Salam Sikder, BSEC commissioner of law.
Mr Sikder said the regulator is working to depute a senior lawyer for prosecution soon.     
Mohammad Saifur Rahman, a BSEC executive director and spokesperson, also said the matter of appointing a senior lawyer is under the consideration of the securities regulator.
Tribunal Judge has fixed August 31 next for delivering the verdict of the case filed in 1997 for manipulation of share prices of Chic Tex.
After 1996 stock market debacle the securities regulator filed a case against Chic Tex, the then managing director Md Maksudur Rasul and director Iftekhar Mohammad of the company for their alleged involvement in manipulation of share prices.
On January 2, 2014 the government set up the Special Tribunal in a gazette notification under the Securities and Exchange Ordinance (SEO)-1969 aiming to quickly dispose of the cases relating to the stock market.
Later, on February 24, 2014 the government appointed District Judge Humayun Kabir at the tribunal.
Mr Kabir joined the tribunal submitting his joining letter to the securities regulator on March 16, 2014.
Establishment of such a special tribunal was a long-standing demand from the stakeholders to deal with the capital market-related cases.
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