SC directs to hold EGM
Appointment of MD and DMD for Envoy Textiles Limited
The Appellate Division of the Supreme Court has directed the authorities concerned to hold an Extraordinary General Meeting (EGM) to appoint Managing Director (MD) and Deputy Managing Director (DMD) for Envoy Textiles Limited.
On November 12, 2023, Sunday, a five-member bench of the Appellate Division headed by Chief Justice Obaidul Hassan passed the order after hearing an appeal petition filed by Abdus Salam Murshedy and others against a High Court judgment that allowed Tanvir Ahmed, one of the directors of the company, to continue as Managing Director until the AGM.
The legal saga had begun in June 2022 when Abdus Salam Murshedy contested a potential cessation of his position as Managing Director by the board committee.
Abdus Salam Murshedy is set to relinquish his role as the Managing Director of Envoy Textiles Limited. The High Court Division’s judgment dated March 9, 2023 mentions his unscrupulousness and his defiance of law.