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Internet Edition. September 5, 2008, Updated: Bangladesh Time 12:00 AM |
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High Court stayed SEC's fine on ONE Bank Directors The High Court Division of the Supreme Court of Bangladesh stayed realization of fine of Tk.1 (one) lac from the Directors of ONE Bank Limited against the Writ Petition filed by the Directors of the Bank on August 28, 2008. The Court has issued a Rule Nisi calling upon the respondents i.e. Securities and Exchange Commission (SEC) to show cause as to why the impugned Memo issued by SEC imposing a fine of Tk. 1 lac each on all Directors of ONE Bank Limited should not be declared illegal, without lawful authority and is of no legal effect.
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