DHAKA, Jan 27, 2025 (BSS) - The hearing of the writ petition, pleading for court’s direction to stay share transfer of Novartis Bangladesh Limited to prevent money laundering in the process has been adjourned for one month.

A High Court division bench comprising Justice AKM Asaduzzaman and Justice Syed Enayet Hossain issued 'stand over' on the writ hearing for one month.

The court came up with the order as the Anti-Corruption Commission (ACC) informed the court that they are investigating the share transfer process between Novartis Bangladesh and Radiant Pharmaceuticals.

Barrister Noor Us Sadiq Chowdhury, appearing for the writ petition, informed the BSS about the court's order. 

Supreme Court lawyer Advocate Ektandar Hossain Hawlader filed the writ petition in this connection, while Advocates Mohammad Ali and Barrister Nur Us Sadiq Chowdhury moved the plea before the court.

The writ petition has named 10 people as respondents, including the Finance Secretary, ACC Chairman, Industries Secretary, and Bangladesh Bank Governor.

The petition has alleged money laundering in the acquisition of Novartis shares by Radiant Pharmaceuticals Limited, seeking court’s directions to investigate the matter and also a stay order on all share transfer process.