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The Appellate Division has stayed the handover of shares in the Dhaka Elevated Expressway from an Italian-Thai company to China’s Sinohydro Corporation for two weeks.
As a result, construction work on the Dhaka Expressway has been halted temporarily, a lawyer said, reports bdnews24.com.
An eight-member bench of the Appellate Division led by Chief Justice Obaidul Hassan made the decision on Thursday.
Advocates AM Amin Uddin, Sheikh Mohammad Morshed, Imtiaz Faruk and several others stood for the Italian-Thai company at the hearing while Advocates Mohammad Mehedi Hasan Chowdhury and Mostafizur Rahman Khan represented the Chinese company.
“The Appellate Division has yet to receive the judgment of the High Court,” Mehedi Hasan told the media after the hearing. “They have issued a two-week status quo until the judgment is received. In two weeks, the case will be put on the cause list of the Appellate Division for a hearing.”
“As the shares will not be handed over at this time, the bank said it will not finance the construction, meaning that the work will be halted.”