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Why not abolish Destiny-2000 Ltd: HC

Special Correspondent |
Update: 2018-05-15 8:27:24 PM
Why not abolish Destiny-2000 Ltd: HC
The High Court

DHAKA: The High Court issued a show-cause notice to the authorities asking why they should not be directed to abolish the Destiny-2000 Limited.

A one-member HC bench of Justice Md Rezaul Hasan passed the order on Tuesday (May 15).

Lawyer ABM Siddiqur Rahman Khan and Mainul Islam moved for Destiny-2000 limited director Lieutenant Gen. M Harun-ar-Rashid and five share holders in court while lawyer AKM Badruddoza moved for Joint Stock Companies and Farms. 

After the HC order, lawyer AKM Badruddoza said the Destiny-2000 limited company was registered on December 14 in 2000. Company’s director Lieutenant Gen. M Harun-ar-Rashid and five share holders filed a petition with the HC seeking pardon for the delay of company’s annual general meeting from 2012 to 2017.

Destiny-2000 limited and Joint Stock Companies and Farms were made defendants in the plea.

Badruddoza said an annual general meeting should be held every year according to law. If it fails to hold the meeting, then the HC can direct to call for the meeting after any member of the company files appeal seeking the meeting.

The director and five other share holders, filed the appeal according to this law. However, of the six men who filed the appeal, Destiny President and former army chief Harun-ur-Rashid is currently on conditional bail. The condition is he must be detached from all activities of the company until the investigation is completed.  

The petition didn’t include about any progress of the investigation. Moreover, the company has no audit report from 2012 to 2017. If so then how come there will be any annual meeting?

The petition also stated that all assets of the company have been seized after Anti-Corruption Commission (ACC) filed graft case. So the company has no real activity. Moreover, of the seven directors of the company, two are in jail since 2012 and four are absconding. The other director Harun-ar-Rashid got conditional bail. So how come there will be an annual general meeting without the company having no director?

That is why the HC asked for explanation why it should not order to terminate the company, Badruddoza added.

BDST: 2010 HRS, MAY 15, 2018

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