The Supreme Court has stayed a High Court verdict that annulled the posts of eight Pubali Bank directors - including its chairman - till Sunday, as they failed to hold 2% shares of the bank during their election on August 21 last year.
Chamber Court Judge Justice Hasan Foez Siddique passed the order on Wednesday, responding to the plea of the directors of Pubali Bank.
He referred it to the full bench of the Appellate Division for hearing. The hearing is likely to be held on Sunday.
Reshad Imam, lawyer of the Pubali Bank, confirmed about the stay order to the Dhaka Tribune.
On Tuesday, the High Court annulled the posts of eight Pubali Bank directors including its chairman as they failed to hold 2% shares.
They are Hafiz Ahmed Majumder (chairman), Muhammad Faizur Rahman, Ahmed Shafi Choudhury, Fahim Ahmed Faruk Chowdhury, Muhammed Kabiruzzaman Yaqub, Rumana Sharif, Suraiya Rahman and Azizur Rahman.
The bench of Justice Md Rezaul Hasan delivered the ruling after rejecting the directors’ petition which challenged the decision of bank’s election commission.
The election commission declared them disqualified as contestants for directorship, as they did not hold 2% shares.
