The Supreme Court yesterday rejected Nobel laureate Prof Muhammad Yunus' petition against a High Court ruling that upheld his dismissal as managing director of Grameen Bank he founded three decades ago.
Chief Justice ABM Khairul Haque, presiding over a seven-member bench of the Appellate Division, passed the one-sentence ruling in a packed courtroom.
Yunus refused to relent even after losing what was seen as his final legal option to stay on as Grameen MD.
In a last-ditch move yesterday afternoon, he filed a petition with the SC for withdrawal of the ruling and a fresh hearing on his leave-to-appeal petition, his lawyer Sara Hossain said.
The court will today hear the recall petition besides hearing another leave-to-appeal petition, filed by nine Grameen directors against the HC ruling.
It was not immediately known on what grounds the apex court dismissed Yunus' appeal.
Yunus, who was not in the court yesterday, told the staff at Grameen Bank headquarters that he respects the SC order.
“It's time for you to work with greater dedication to keep this institution effective,” hetold around 300 staff members who gathered on the ground floor of the Grameen office at Mirpur in the capital. “You must not let this institution slide down.”
Meanwhile, Grameen Chairman Khondaker Muzammel Huq told The Daily Star that he will call a meeting of the board of directors after receiving a certified copy of the court's order from Bangladesh Bank.
The ruling yesterday capped a month-long dispute between Yunus and the government over the right of the “banker to the poor” to continue as managing director of the bank.
Last month, the central bank removed 71-year-old Yunus from the post, saying he violated the bank's retirement regulation that requires an official to stand down at 60.
Yunus said his dismissal was illegal and that the government was trying to take control of the bank, which pioneered microlending to the poor to alleviate poverty.
His legal battle has caused concern worldwide and threatened to dampen ties between Bangladesh and the United States.
Robert Blake, US assistant secretary of state for South and Central Asian affairs, met Prime Minister Sheikh Hasina, government and opposition leaders and Yunus during a trip to Bangladesh last month.
He told reporters the US was “deeply troubled” by the developments and called for a compromise. He said if no compromise was reached, “I think it will have an effect on our bilateral relations.”
A US embassy spokesperson in Dhaka yesterday said, “We remain concerned and hopeful that a compromise can be reached.
“We appreciate the efforts being made to achieve a resolution that is mutually satisfactory to all parties.”
Attorney General Mahbubey Alam welcomed the SC ruling, saying this means Yunus can no longer hold the post.
Yunus' counsel Dr Kamal Hossain declined to make any comment.
Rokanuddin Mahmud, another counsel for Yunus, said he may continue as MD until Grameen board of directors appoints his successor, as per the Bangladesh Bank's "removal letter".
The attorney general disagreed saying there was nothing like this in the letter.
Replying to a query, he said now that the top court has given its ruling on the issue, there is no scope for a compromise between Yunus and the government.
Earlier, Dr Kamal told the court that the BB removed Yunus without issuing a prior notice seeking his explanation, which is a violation of principles of natural justice.
He said Yunus was appointed the Grameen Bank MD with the BB approval in 1990. Besides, the central bank conducted audit at the Grameen at different times, but raised no question about Yunus' appointment and his holding office as MD.
There was no need for further approval regarding his appointment, he continued.
The HC had rejected the petitions without issuing any rule upon the government or BB to explain Yunus' sacking.
“We had placed before the High Court interpretation of law, relevant papers and information in support of the writ petitions, but the government placed no papers against the petitions,” Kamal said.
Mahbubey Alam told the SC bench that the HC has rightly delivered the verdict after examining the relevant documents and hearing the arguments from both sides.
Dr Yunus cannot hold the office of MD, since his retirement age was over in 1999, he added.
Mahmudul Islam, Rokanuddin Mahmud, Sara Hossain and Mustafizur Rahman Khan assisted Dr Kamal Hossain, while Tawfique Nawaz appeared for Bangladesh Bank.