The Appellate Division of the Supreme Court on Monday set for Tuesday to pass its order on a civil petition filed by Beximco Pharmaceuticals Ltd. challenging the High Court order to appoint a receiver to conduct the functions of the Beximco Group of Companies.
"Tomorrow for order," said the three-member bench of the Supreme Court (SC) headed by Appellate Division Justice Md Ashfaqul Islam.
During the hearing, Beximco Pharmaceuticals' lawyer, Mustafizur Rahman Khan, argued that the appointment of a receiver could harm the pharmaceutical industry and negatively impact both consumers and the company's 86 per cent public shareholders, with Salman F Rahman holding just a 4 per cent stake.
Mustafiz emphasised that the company had consistently provided dividends to its shareholders and faced no service-related complaints.
On the other hand, petitioner Advocate Masood R Sobhan and Advocate Fatem Shahed Chowdhury argued for upholding the High Court's order to ensure the smooth functioning of Beximco Group as its vice-chairman, Salman F Rahman, had been detained since his arrest on August 13, shortly after the fall of Sheikh Hasina who fled to India in a student-led mass uprising on August 5.
