Dhaka, Nov. 20 -- The High Court has issued an injunction stopping India's Adani Group from moving forward with its arbitration proceedings in Singapore over alleged unpaid bills tied to its power purchase agreement (PPA) with Bangladesh.
The bench of Justice Md Bazlur Rahman and Justice Urmi Rahman delivered the order today, ruling that the arbitration must remain paused until a previously appointed committee completes its review of the agreement and investigates possible irregularities.
The petition challenging the legality of the 5 November 2017 PPA was filed by Barrister M Abdul Kaiyum with the Supreme Court on 12 November last year. He also served a legal notice on 19 November to the BPDB chairman and the energy secretary, urging the...