Key officials, including the governor of Bangladesh Bank, have been served legal notices to stop the transfer of shares worth Taka 230 crore from Novartis Bangladesh to Radiant Pharmaceuticals Limited.
The notices, sent by a Supreme Court lawyer, highlight that the sale of 975,036 shares has already been approved, with the process being overseen by a former adviser to the prime minister.
In the absence of the former adviser, the chairman of Radiant Pharmaceuticals is reportedly handling the transaction, raising concerns about potential financial misconduct.
The notices warn that if the shares are sold at an inflated price to foreign shareholders, it could result in significant foreign currency outflows, which would be a violation of the Money Laundering Prevention Act of 2012 and its associated rules.