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DHAKA, March 2, 2025 (BSS) - The High Court (HC) today adjourned till March 6 its hearing on a petition filed pleading for its direction to probe hand over share of Novartis Bangladesh to Radiant Pharmaceuticals Limited without any kind of verification.

A High Court division bench of Justice Md Iqbal Kabir and Justice Md Riaz Uddin Khan passed the order allowing a time plea filed in this regard, writ petitioner's lawyer Ektander Hossain Howlader said.

"Time was sought for submitting supplementary application and Barrister Muhammad Jamiruddin Sircar, lawyer for the petitioner, failed to appear before the court as he is unwell," Advocate Howlader added.

Legal notices were served on January 8 to three officials concerned including the Governor of the Bangladesh Bank (BB) urging to stay hand over share of Taka 230 crore of Novartis Bangladesh to Radiant Pharmaceuticals Limited.

Supreme Court lawyer Ektander Hossain Hawlader sent the notices to BB governor, deputy governor of central bank's Foreign Exchange Investment Department and concerned director.

The notice said a process is underway to sell 9, 75,036 shares of Novartis Bangladesh and proposal of selling the shares to Radiant Pharmaceuticals Limited at Taka 230 crore has already been approved. The process was taking place under the guidance of Salman F Rahman, former private industry and investment adviser of the then prime minister Sheikh Hasina.

Now in absence of Rahman, Radiant Pharmaceuticals Limited chairman Naser Shahriar Jahedi Mohul, who is allegedly looking after the business interests of Sheikh Hasina and her family, is taking the process forward, the notice added.

The notice further said a huge amount of foreign currency will go out of the country if extra price is paid to the foreign shareholders without taking the real market price into consideration and it is a crime under Money Laundering Prevention Act, 2012 and Money Laundering Prevention Rules, 2019.