Dhaka, May 31 -- The High Court has dismissed three applications by Muhammad Yunus challenging the imposition of taxes worth around Tk 150 million on money donated by the Nobel laureate to his charitable trusts.

In its verdict on Wednesday, the bench of Justice Muhammad Khurshid Alam Sarkar and Justice Sardar Md Rashed Jahangir on Wednesday ruled that the tax liability against Yunus under the Gift Act was valid.

As a result, Yunus, who had deposited Tk 30 million with the High Court to appeal against the decision of the Taxes Appellate Tribunal in the case, must now pay the remaining Tk 120 million to the National Board of Revenue, according to Attorney General AM Amin Uddin.

At the hearing, Yunus's lawyers argued that he was entitled ...