High Court orders two-week status quo on Nagad administrator's activities
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The High Court has ordered a two-week status quo on the activities of the administrator appointed to the mobile financial service provider “Nagad”.
The bench of Justice Farah Mahbub and Justice Debashish Roy Chowdhury issued the order on Wednesday, following a plea filed by the company’s Executive Director Md Shafayet Alam, bdnews24.com reports.
Lawyers Md Naushad Zamir and Abul Kalam Khan Daud represented the petitioner, while lawyer Saiful Islam appeared for Bangladesh Bank.
The order restricts the administrator and the board from initiating any new actions beyond regular business operations until Jan 2, lawyer Kalam told bdnews24.com.
He added that the High Court will deliver its final verdict after a hearing scheduled for Jan 2.