Dhaka: The hearing of the writ petition filed by Novartis Bangladesh Limited seeking a stay order of share transfer to prevent money laundering in the share transfer process has been adjourned for one month. The Anti-Corruption Commission (ACC), during the hearing, informed the court that it is investigating the share transfer of Novartis Bangladesh and Radiant Pharmaceuticals.
According to Bangladesh Sangbad Sangstha, a High Court division bench comprising Justice AKM Asaduzzaman and Justice Syed Enayet Hossain issued a ‘stand over’ on the writ hearing over the matter for one month. Barrister Noor Us Sadiq Chowdhury, representing the writ petition, informed the BSS about the court’s order.
Earlier, ACC lawyer Advocate Iskandar Hossain Hawlader filed a writ petition before the court in this connection. On his behalf, Lawyer Mohammad Ali and Barrister Nur Us Sadiq Chowdhury moved for a hearing today. The writ petition has named 10 people as respondents, including the Finance Secretary, ACC Chairman, Industries Secretary, and Bangladesh Bank Governor.
The petition has alleged money laundering in the acquisition of Novartis shares by Radiant Pharmaceuticals Limited, seeking directions to investigate the matter and also a stay order on all share transfer activities. During the hearing, the ACC lawyer told the court that they would investigate the matter and submit a report within a month. Satisfied with this, the court ordered a one-month ‘stand over’ of the case until the ACC report is submitted.