The High Court (HC) on Thursday stayed a Bangladesh Bank (BB) order that removed NRB Commercial Bank Managing Director Dewan Mujibur Rahman from his post for misconduct and violating the rules.
A two-member HC bench comprising of Justice Syed Muhammad Dastagir Husain and Justice Md Ataur Rahman Khan passed the order in response to a writ petition filed by Dewan Mujibur Rahman challenging the central bank's order.
The court also asked the authorities concerned to explain as to why the removal order should not be declared illegal.
All concerned, including the BB governor, were asked to reply to the rule within four weeks, reports UNB.
On December 5, BB in an order removed NRB Commercial Bank Managing Director Dewan Mujibur Rahman for misconduct and violating the rules.
The central bank's decision was conveyed to the NRBCB managing director on Wednesday through a letter.
As per the BB decision, Dewan Mujibur will not be able to serve any bank in the next two years.
The Bangladesh Bank served the letter after it had found evidence against Dewan Mujibur of irregularities and violation of the banking law.
Earlier, the central bank served a show-cause notice on him over 10 irregularities and violation of the banking law in issuing loans of Tk 701 crore which the central bank believes went against the interests of the bank's depositors.
Challenging the notice, the NRBCB managing director went to the court, but he failed to obtain any order in his favour.
HC freezes BB order removing NRBCB MD
FE Team | Published: December 07, 2017 22:34:25 | Updated: December 08, 2017 10:14:38
HC freezes BB order removing NRBCB MD
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