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The Privatisation Commission (PC) said Tuesday that it was not aware of Monday's High Court stay order and continued to organise "road show" abroad to attract buyers for state-owned Rupali Bank.
"We have not been officially notified about the stay order. So, the privatisation process is continuing following the earlier verdict of the court. If the court issues such stay order we will follow the court's order," a high PC official told the FE requesting anonymity.
He said the PC is arranging the 'Road Show' following the suggestions of the World Bank (WB) to attract the international buyers for the bank.
The High Court Division of the Supreme Court Monday last issued a stay order on the ongoing 'Road Show' for selling of Rupali Bank.
The court comprising Justice Md. Abdul Matin and Justice ATM Fazle Karim issued a 'Rule Nishi' in response to the writ petition filed by shareholder of the bank Masud Al-Hoque Mollah asking the respondents -- Privatisation Commission and others -- why the Road Show should not be declared illegal.
The court also ordered the chairman of the PC to respond to the petition within next three weeks effective from March 13, Idrisur Rahman, lawyer of the petitioner Masul Al-Hoque Mollah told the FE Monday last.
The PC sources said at least 25 renowned international business institutions and an individual including Dhabi Group, Saudi Prince and State Bank of India (SBI) registered their Expression of Interests (EoI) to buy the Rupali Bank.
The chairman of the PC and other officials concerned were busy with the Road Show in Karachi of Pakistan Tuesday.
The PC held 'Road Show' in Dhaka March 9 last for attracting customers for buying Rupali Bank.
Recently, the PC at its 32nd meeting held February 27 last decided to organise road shows at home and abroad to sell the 67 per cent state owned share of the Rupali Bank.
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