HC suspends dismissal order of 5 top Sonali Life Insurance officials
The Insurance Development and Regulatory Authority (IDRA) dissolved the board of directors of Sonali Life Insurance Company Limited on 18 April on charges of corruption and irregularities
The High Court today (14 July) suspended the dismissal order issued against five top officials of Sonali Life Insurance for three months by the insurance regulator on charges of corruption and irregularities.
The five are the company's Additional Managing Director Rafiqul Islam, Deputy Managing Director Muhammad Abdullahil Kafi, Deputy Managing Director Golam Mostafa, Assistant Managing Director Syed Md Azim and Assistant Managing Director Manzoor Morshed.
At the same time, the court has issued a ruling to the administrator of Sonali Life Insurance, IDRA chairman, and secretary of the Financial Institutions Division, seeking to know why the dismissal order of these five will not be cancelled permanently.
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Justice Naima Haider and Justice Kazi Zinat Hoque gave this order on Sunday (14 July) following a writ petition in this regard.
Lawyer Barrister Mustafizur Rahman Khan with Advocate Sumaiya Ifrit Bine Ahmed appeared in court on behalf of the five.
The petitioner's lawyer said as a result of this order of the HC, there is no legal obstacle to performing duties by the five.
The Insurance Development and Regulatory Authority (IDRA) dissolved the board of directors of Sonali Life Insurance Company Limited on 18 April on charges of corruption and irregularities.
Retired Brigadier General SM Ferdous was appointed as administrator.
On 9 July, the five people were dismissed on various charges including financial irregularities, breach of discipline, and certificate forgery.
