High court dismisses Younus' plea

Dhaka: Nobel Laureate Professor Mohammad Younus yesterday lost his legal battle to retain his position as the managing director of Grameen Bank as the High Court rejected his petition challenging the decision of Bangladesh Bank.

"The petitions are rejected," said Justice Momtaz Uddin Ahmad, the senior judge of the two-member bench, as the court delivered a lengthy order after three days of hearings on Younus' writ petition.

The bench with Justice Gobinda Chandra Thakur being its other member said that despite being a mandatory provision, the Bangladesh Bank's approval on Younus' reappointment as the executive chief of Grameen Bank was not obtained.

The court also rejected an identical writ filed by nine of the 12 directors of the Grameen Bank Board after an analogous hearing.

At the crowded courtroom, Younus was represented by only one of his junior lawyers Sara Hussain, who said, "What we had apprehended appeared true".

Younus' lawyers said they decided to challenge the High Court order before the apex Appellate Division of the Supreme Court through a provisional leave petition.

Meanwhile, the Grameen Bank in a statement immediately after the verdict said, "We have received the [High Court] order and are very disappointed."