SC stays HC order on Pubali Bank
Wednesday, 26 February 2014
The Supreme Court (SC) has stayed the High Court (HC) order which vacated eight positions of directors at Pubali Bank Ltd. Chamber Judge Justice Hasan Foez Siddique passed the order on Wednesday afternoon following a plea by the bank authorities. On Tuesday, the HC vacated the posts due to non-compliance of share-holding requirements. Bangladesh Securities and Exchange Commission (BSEC), in a 2011 order, made it mandatory for bank directors to hold a minimum of 2 percent share of the bank, according to a news agency.