** More curbs on govt officials’ foreign trips ** Children take bath in the Buriganga River in Dhaka to ward off the scorching summer heat. This photo was taken from Buriganga embankment on Monday. NN photo ** Taposh wants shops shut early ** Economists differ with 6.22 per cent inflation rate rather it is about 12 per cent ** Public transport services in capital New law with a provision Tk 5 crore fine on cards ** Sweden takes formal decision to apply for NATO membership ** Drug Admin bans eight types of medicines ** Interpol's Dhaka office requests India to send PK Halder back to Bangladesh ** Dollar price jumps to Tk87.50 ** PK Halder to be brought back following set procedure: FM ** Sri Lanka out of petrol, economy in a precarious condition: PM Wickremesinghe ** Social resistance against grabbers a must to protect Tangail, Gazipur hillocks ** PK Halder on 3-day remand in West Bengal ** In front of Gulshan Society Mosque in the capital, a vested quarter filling parts of Gulshan-Banani Lake creating a land bridge effectively bypassing security checkpoints that protect Gulshan North Diplomatic Zone. This photo was taken on Sunday. NN photo ** All necessary steps will be taken to bring PK Halder back: AG ** Russia's ‘brutal invasion’ of Ukraine is faltering: NATO ** Vladimir Putin ‘seriously ill’: Ex British spy claimed ** It may take three to six months to bring back PK Halder: ACC prosecutor ** Ten killed in ‘racially motivated’ shooting in Buffalo, US ** People stand in queue to buy mustard oil from a small mill at Bata Signal in the Elephant Road area of Dhaka on Sunday. One customer is allowed to buy maximum 2 litres of oil, depending on production. Agency photo ** Fugitive chops off policeman's hand in Ctg ** PK Halder hooked in Kolkata: Government's easy plundering policy created too many such cases ** One of PK Halder's mansions in Ward No. 15 of Ashoknagar in North 24 Parganas district which has been sealed by the ED. Photo: Collected ** Scamstar PK Halder arrested in India ** Worse still to come, Lanka’s new PM warns **

SC clears way for administrator to operate Delta Life till Feb 6

24 January 2022

Staff Reporter :
The Appellate Division of the Supreme Court on Sunday extended till February 6 this year the stay order on the proceedings of a High Court verdict that declared the appointment of an administrator to operate Delta Life Insurance Company as illegal.
A five-member bench of the Appellate Division headed by Justice Md Nuruzzaman passed the order after hearing a petition filed by the Insurance Development and Regulatory Authority (IDRA) challenging the High Court's verdict.
There will be no bar on Md Quddus Khan, former Secretary, to operate Delta Life Insurance as the administrator after the stay order granted by the apex court, said Additional Attorney General Sk Md Morshed.
The High Court on January 6 delivered the verdict declaring illegal a government's decision on appointing the administrator to Delta Life Insurance in February in 2021. The High Court in the verdict reinstated the previous board of directors.
The verdict was given after hearing a writ petition filed by Delta Life and its share-holders challenging the decision of appointing an administrator by IDRA on allegations that Delta Life had evaded taxes and had not settled claims of policyholders.
But the chamber Bench of the Appellate Division on January 10 this year stayed the proceedings of the verdict and set January 16 for further hearing by the full Bench of the Appellate Division. After hearing, the apex court on January 16 upheld the stay order till January 23 and asked the IDRA to file a regular appeal petition against the verdict in the meantime.
Accordingly the petition came to the cause-list of the Appellate Division and the apex court extended the stay order till February 6.
Lawyer Mustafizur Rahman Khan who appeared in the hearing on behalf of the Delta Life said, "The IDRA could not file the regular appeal petition as the full verdict of the High Court has not been released yet. That is why the apex court adjourned the hearing till Feb 6."
On February 11, 2021, the IDRA suspended Delta Life's board by citing irregularities, and appointed Md Quddus Khan as the administrator for four months.
The ousted entrepreneurs went to the HC against the regulatory action. They also filed an anti-corruption case against IDRA Chairman Dr M Mosharraf Hossain charging him with demanding bribes. Later, the IDRA changed administrators in the company twice.
Supreme Court lawyers Mustafizur Rahman Khan and Karishma Jahan appeared before the Appellate Division bench for Delta Life and its shareholders, while Additional Attorney General Sk Md Morshed represented the State. 

Add Rate