The High Court yesterday restricted functions of 11 directors of Social Islami Bank Ltd (SIBL) for allegedly holding the offices for 16 years defying the law.

In response to a writ petition, the court also issued a rule upon the Bangladesh Bank to explain in three weeks why it should not be directed to remove the 11 directors from the offices of directors of SIBL.

The restriction on functioning by the directors will continue till disposal of the rule, the court said.

The directors of SIBL against whom the order was passed are -- Anisul Haque, Abdul Awal Patwari, Sultan Mahmud Chowdhury, Nasir Uddin, Sheikh Md Rabban Ali, Sayeedur Rahman, Jabbar Mollah, Faisal Ahmed Patwari, Noor-A-Alam Chowdhury, Lily Amin and Md Azam.

Rakimul Al Mamun, a share holder of SIBL, yesterday filed the writ petition with the HC saying that the 11 directors have been holding their offices for long 16 years violating the Banking Company Act 1991.

As per provisions of the law, no director can hold the office for more than six years continuously, the petitioner said.

He said the directors are allegedly involved in misappropriating the Bank money.

He prayed to the court to direct the central bank authorities to remove them from their offices.

The HC bench of justice AHM Shamsuddin Choudhury Manik and justice Jahangir Hossain Selim came up with the order and the rule after holding hearing on the petition.

Advocate Manzill Murshid appeared for the petitioner, while Deputy Attorney General ABM Altaf Hossain represented the government.

The Daily Star/Bangladesh/ 10th Jan 2012