The High Court Tuesday rejected a writ petition filed by Destiny Multipurpose Cooperative Society Ltd challenging a Bangladesh Bank (BB) report on illegal banking of the company, reports UNB.

An HC bench, comprising Justice Farid Ahmed and Justice Sheikh Hassan Arif, passed the order.

Md Rafiqul Amin, chairman of the cooperative society and Destiny 2000 Ltd, filed the writ petition with the High Court on April 8 seeking its stay order on the central bank report and a rule upon the government and the BB to explain the legality of the report.

The central bank's report revealed that Destiny Multipurpose Cooperative Society Ltd has been involved in illegal banking.

In his petition, the Destiny Group chairman stated that the BB's report was faulty and illegal as the BB did not follow due procedures while inspecting the company.

He also said the news published in different newspapers against the company caused huge damage to it.

Financial Express/Bangladesh/ 18th April 2012