The High Court stayed the annual general meeting of the IFIC Bank for six weeks yesterday. The AGM was scheduled for today.
A one-member HC bench of justice Zubayer Rahman Chowdhury issued the order. Monirul Alam, a shareholder of the IFIC Bank, filed a petition with the HC seeking the stay. The petition also challenged IFIC board's decision for disqualifying him for the election to the posts of directors.
Petitioner's counsel barrister Moudud Ahmed told The Daily Star that the election was due to be held in the AGM.
Alam was not allowed to contest the election for which the IFIC board didn't give any explanation.
The High Court asked the IFIC Bank authorities to explain their position about Monirul's candidature.