BANGLADESH NEWS
The High Court on Monday rejected a writ petition challenging the legality of Khondker Ibrahim Khaled’s actions regarding stockmarket irregularities involving some individuals and enterprises.
A four-member committee led by Ibrahim Khaled conducted an inquiry into stockmarket disaster in February and March last year, and submitted a 300-page probe report to the government on April 7 the same year.
In the report, the committee pointed out around 100 individuals and business organizations responsible for the market crash and also found them swindling around Tk 20,000 crore from the market. The committee also made several recommendations to this effect.
The HC bench of Justice Naima Haider and Justice Muhammad Khurshid Alam Sarkar delivered the verdict after hearing arguments from the counsels for the petitioners, Ibrahim Khaled and the state.
The court’s observations in the judgment could not be known, as the full text of the verdict was not released on Monday.
Ibrahim Khaled’s lawyer Probir Neogi told that it has been proved that his client has not done any wrong through his actions.
Three Supreme Court lawyers -- Abul Hashem, Khurshida Aktar and Rokan-uz Zaman jointly filed the writ petition with the HC in May last, saying that Ibrahim Khaled disclosed contents of the probe report to the media, exceeding his jurisdiction and violating the right to information law.
Ibrahim Khaled, through his statements, created unrest and anarchy in the capital market and damaged the reputation of those individuals and businesses, the petitioners alleged.
They also said that Ibrahim Khaled brought allegations in the report against the individuals and companies without giving them any opportunity to defend, which is against the principle of natural justice, the lawyers said in the petition.
They prayed to the court to direct Khaled to withdraw his statements
The HC on May 19 last year asked Khaled and officials concerned of government to explain about his actions and statements to the media regarding stock market irregularities involving some individuals and enterprises.
During hearing on the rule, Probir Neogi told the court recently that his client has done everything within the territory of his jurisdiction.
He said the HC on April 19 last year had directed the government to publish the full investigation report on stockmarket debacle in a reasonable time, and the government had done it later.
Appearing for the petitioners, advocate Kazi Aktar Hamid told the court that Ibrahim Khaled had conducted enquiry without hearing arguments from the individuals and companies against whom he brought allegations.
Deputy Attorney General Mokhlesur Rahman stood for the government.
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