The Supreme Court (SC) on Thursday stayed a directive of the Securities and Exchange Commission (SE) on compulsory two percent share holding for two directors of Jamuna Bank. The appellate division of the apex court issued the order following an appeal filed by Al-Haj M. A. Khayer, a director of Jamuna Bank.

“Stay as prayed for is granted in respect of petitioners only till March 17, 2013, on which date the leave petition will come up for hearing before the court, said the court order.

“The Supreme Court issued stay order only in favour of the petitioners,” SEC director Mahbubur Rahman said.

Commenting on the court order, DSE president Rakibur Rahman told daily sun that the stay order will be applicable for the petitioners only. He also said if any body files leave to appeal petition, he/she can get the same court order.

News: The Daily Sun/Bangladesh/12-Nov-12