The Chamber Judge of the Appellate Division in the Supreme Court (SC) on Thursday stayed a High Court (HC) verdict that sentenced five top officials  of the Agrani Bank including its Managing Director Murshedul Kabir to three months' imprisonment for disobeying a lower court order earlier.

Justice M Enayetur Rahim passed the order after hearing a petition in this regard.

Attorney General AM Amin Uddin stood for Agrani Bank in the court while counsels Md. Akhtaruzzaman, Momtaz Uddin Fakir, Shamim Khaled and Barrister Tanjibul Alam represented the bank officials.

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The defendants’ lawyers said the HC verdict will remain suspended until March 18 following Thursday’s verdict.

As a result, the officials will not have to surrender before the trial court within this period and police will not have jurisdiction to arrest them, they said.

On January 23 this year, the HC sentenced the five officials to three months' imprisonment for defying a court order by including Moon Group's name in the list of Credit Information Bureau (CIB) of Bangladesh Bank (BB).

The four other officials are its principal branch’s General Manager Md Fazlul Karim, on post-retirement leave (LPR) General Manager AKM Fazlul Haque, Deputy Manager-2 Shyamal Krishna Saha and Deputy Managing Director-1 Wahida Begum.

Advocate Nurul Amin who stood for the Moon Group said the HC sentenced the officials for contempt of court and ordered to confiscate their properties while details will be known when the full verdict is published.

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Later, a petition was submitted with the Chamber Judge Court on Wednesday against the HC verdict.

It was learned that on September 20, 2021, the principal branch of the bank sent a letter to the Moon Group to pay 25 percent of its dues in installments.

The letter reads if the group does not refund 25 percent of the loan by September 30, 2021, it will be listed as a defaulter and sent to the BB’s CIB.

Challenging the legality of the bank's letter, a decree was sought in the lower court. At the same time, a temporary ban was sought against the bank's letter on behalf of the group.

Being rejected by the lower court, the group submitted a miscellaneous appeal with the HC against this order while the HC issued status quo on the bank's letter and a rule as well.

Meanwhile, the bank sent the group to the BB’s CIB listing it as a defaulter for not paying 25 percent installments of the loan within the stipulated time.

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Later, the group submitted a violation case against the five with the HC in this regard.

After hearing the case, the court sentenced five officials to three months' civil imprisonment.

According to the case statement, the group owed Tk 539 crore to Agrani Bank till 2017.