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The High Court has reconstituted the board of directors to administer scam-ridden Destiny Multipurpose Co-Operative Society Ltd.
Retired Justice of the High Court Mainul Islam Chowdhury has been made the chairman of the board.
Bench of Justice Mhummad Khurshid Alam Sarkar passed the order on Thursday during a hearing on the petition filed by 16 shareholders of the company including director Bikash Shil.
Former district judge Hasan Shahed Ferdous, barrister Margub Kabir, FCA Fakhruddin Ahmed and former MPO trader Md Iqbal Zaman has been made members of the new board of directors.
On May 31, 16 shareholders of the company appealed seeking permission to hold its Annual General Meeting (AGM) to the High Court.
The petition said, from 2012 to 2021 no AGM of the company was held as several directors including Managing Director of Destiny Rafiqul Amin remained in jail in criminal cases.
In 2018, an appeal was made seeking to liquidate the company at the High Court but an order in this regard was stayed by the appellate division of the Supreme Court later, said the petition.
However, the order did not ask to refrain from holding AGM or directing the company.
Barrister Mainul Hossain represented the petitioner’s side while advocate Ujjwal Kumar Bhowmik represented the opposition on behalf of Destiny MD Rafiqul Amin during the hearing today.
Barrister Mainul Hossain said the High Court has asked to keep five members in the new board and it will take decisions considering the interests of the shareholders.
Also read: Issue red alerts for arrest of 39 fugitives in Destiny scam case: HC