bdnews24.com :
The High Court has quashed two cases against Beximco Group Chairman Sohel F Rahman and Vice Chairman Salman F Rahman over stock market fraud in 1996.
The order was delivered by justices Syed Muhammad Dastagir Husain and Md Salim on Mar 16, 2015.
A full copy of the order was only recently released. After news of the order was picked up by the media, the plaintiffs in the case, Bangladesh Securities and Exchange Commission (SEC) said it would appeal against the
decision. Beximco Group companies Beximco Pharmaceuticals and Shinepukur Holdings, Beximco Pharma Chairman Sohel Rahman, Vice Chairman Salman Rahman and the late managing director DH Khan are accused in the cases. Salman is currently Awami League President Sheikh Hasina’s Private Sector Development Adviser. Capital market regulators SEC started a case against 15 organisations and 36 individuals for artificially inflating the stock market in 1996 after taking bribes from investors.
The cases were transferred to a special tribunal for stock market cases from the chief metropolitan magistrate court after its formation. Lower courts had quashed the cases twice and the court had also issued a rule asking why the case should not be dismissed. It also stayed proceedings of the cases.
The High Court has quashed two cases against Beximco Group Chairman Sohel F Rahman and Vice Chairman Salman F Rahman over stock market fraud in 1996.
The order was delivered by justices Syed Muhammad Dastagir Husain and Md Salim on Mar 16, 2015.
A full copy of the order was only recently released. After news of the order was picked up by the media, the plaintiffs in the case, Bangladesh Securities and Exchange Commission (SEC) said it would appeal against the
decision. Beximco Group companies Beximco Pharmaceuticals and Shinepukur Holdings, Beximco Pharma Chairman Sohel Rahman, Vice Chairman Salman Rahman and the late managing director DH Khan are accused in the cases. Salman is currently Awami League President Sheikh Hasina’s Private Sector Development Adviser. Capital market regulators SEC started a case against 15 organisations and 36 individuals for artificially inflating the stock market in 1996 after taking bribes from investors.
The cases were transferred to a special tribunal for stock market cases from the chief metropolitan magistrate court after its formation. Lower courts had quashed the cases twice and the court had also issued a rule asking why the case should not be dismissed. It also stayed proceedings of the cases.
