Dhaka, March 12 -- The High Court has ruled that Beximco Group will operate under its own supervision without a receiver, with strict monitoring by Bangladesh Bank and other relevant regulators.

The bench of Justice Farah Mahbub and Justice Debashish Roy Chowdhury issued the verdict on Wednesday, disposing of the rule on appointing a receiver.

Barristers Ruhul Quddus Kazal and Md Moniruzzaman represented Bangladesh Bank in court, while Barrister Masud R Sobhan appeared for the opposing side.

The High Court had earlier, on Sept 5, 2024, ordered the appointment of a receiver to oversee all Beximco Group companies.

The same order also directed Bangladesh Bank to take necessary steps to recover funds taken from different banks by Beximco ...