The High Court has extended the order maintaining the status quo on the activities of the administrator appointed at Nagad until 30 January.
The directive was issued by the HC bench of Justice Farah Mahbub and Justice Debasish Roy Chowdhury on Wednesday and disclosed on Thursday.
On 18 December 2024, the HC had imposed a two-week status quo on all activities of the administrator appointed in Nagad.
Assistant Attorney General Muzahedul Islam Shahin said that a writ petition concerning Bangladesh Bank and Nagad is currently under judicial consideration, and a status quo order is in place regarding Nagad.
Barrister Muhammad Nawaz Jamir, representing Nagad, said that the High Court also observed that Bangladesh Bank has engaged in several illegal actions. Once the final judgment is delivered, these actions will be reversed, and appropriate legal measures will be taken.
The legal dispute began in September soon after the Bangladesh Bank appointed Muhammad Badiuzzaman Dider as Nagad’s administrator. The banking regulator also dissolved Nagad’s previous board and reconstituted it with the beneficiary group of the competitor company.
Challenging the central bank’s activities, Md Shafayet Alam, an executive director of Nagad, filed the writ petition with the High Court.