AIMS First and Grameen One MFs case
SC to pass order on appeal today
STAFF REPORTER
The Appellate Division of the Supreme Court will pass its order on an appeal against a High Court verdict that declared illegal the BSEC decision to dissolve the AIMS First Guaranteed and Grameen One closed-end mutual funds.
The four-member bench of the Appellate Division headed by Chief Justice Surendra Kumar Sinha fixed the date after concluding the hearing on the appeal from the both sides.
On December 14 last year, in a verdict the High Court bench comprising Justice Tariq ul Hakim and Justice Farid Ahmed Shibli declared the decision of the Bangladesh Securities and Exchange Commission (BSEC) to dissolve the AIMS First Guaranteed and Grameen One closed-end mutual funds as illegal. According to the HC order, the decision of the BSEC to fix 10-year tenure for the closed-end mutual funds and shut them down later would not be applicable to AIMS First and Grameen One.
Later an investor filed an appeal with the apex court for staying the operation of the HC order. After hearing on the appeal the apex court fixed today for delivering its order on the matter.
