The High Court (HC) has issued an injunction on holding of the 14th and 15th annual general meetings (AGMs) of the Bangladesh Commerce Bank Ltd for three weeks.
A HC company bench also issued injunction on declaring any director of the bank under 'Ga' category as re-elected without any election, a lawyer concerned said at a press release.
The two AGMs were scheduled for holding on February 1, 2014.
The HC bench comprising Justice Md Rezaul Hasan passed the order on January 27, 2014 following a company matter (33/2014) filed by the bank's shareholder-Golden Horizon Ltd-that intended to be candidate in the directors' election.
Barrister Md Omar Farouq, who appeared for Golden Horizon in the court, said that as per agenda of the AGMs, two directors at the 14th AGM and one director at the 15th AGM under 'Ga' category are supposed to be retired and re-elected.
With an aim to participate in the directors' election, Golden Horizon communicated with the bank for collecting nomination paper and knowing about the polls. There, it knew from the bank's resolution of December 26, 2013 that the three directors will be considered as re-elected without any election after their retirement from the post.
Challenging the decision of the bank, Golden Horizon took the matter to the HC under concerned provisions of the Company Act and Bangladesh Commerce and Investigation Limited (reconstruction) Act-1997, the article of association of the bank, the Company Rules-2009, said the press release.
Advocate Mohammad Hossain also stood up for Golden Horizon in the court.
HC stay on holding BCB AGMs
FE Report | Published: January 31, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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