Annisul loses legal battle over Desh Energy shares

Annisul loses legal battle over Desh Energy shares

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The High Court on Monday asked Desh Energy chairman Annisul Huq to buy back the shares of two founder directors’ at an ‘appropriate price’.
An HC bench with Justice M Rezaul Hasan passed the order, following a petition filed by Nuher Latif Khan and Shahpar Saba.
Emerging from the court, Barrister Akhtar Imam, the counsel for the petitioners, told reporters that Annisul Huq and his associates have to buy the shares of Nuher Latif Khan and his sister Shahpar Saba at the ‘appropriate price’.On April 15, 2013, Nuher and Shahpar, having 20 percent share of the company, filed the case against former FBCCI president Annisul Huq and his son Navidul Huq accusing the duo of threatening them though various means and pushing the company into a losing concern through mismanagement.
The amount of shares of the siblings was 50 per cent at the beginning of the company while Annisul Huq and his son were 51 percent.
Now it has brought down to 20 per cent and 80 per cent respectively.
Barrister Akhtar Imam further said the High Court allowed their petition that sought direction to purchase 20 percent shares.
M Mehhedi Hasan Chowdhury, the counsel for Annisul Huq and his son, said he would file an appeal with the Supreme Court against the HC order.
A UK graduate, Nuher Latif Khan along with his sister set up the power company in 2005.
Desh Energy owns a gas-run power plant at Kumargaon, Sylhet and another oil-run plant at Siddhirganj, Narayanganj. – UNB

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