DHAKA: The High Court declared the agreements of Canada-based oil & gas Company Niko with state-run companies Bapex and Petrobangla illegal.

It also directed to confiscate all assets of Niko in Bangladesh.

An HC bench of Justice Naima Haider and Justice Abu Taher Md Saifur Rahman passed the order as the hearing on a petition of Energy expert Professor Shamsul Alam came to an end on Thursday (August 24).

Barrister Tanjib-ul Alam, Attorney General Mahbubey Alam and Barrister Moyeen Ghani moved for the petitioner, state and BAPEX on side of Niko respectively.

Barrister Moyeen Ghani, who moved for Bapex as part of international arbitration court related to Niko affairs, said that Shamsul Alam filed the writ in 2006.

The deals signed between Niko-Bapex in 2003, and Niko-Petrobangla in 2006 didn’t follow fair way. It was done in corruptive means, said the petition.

Besides, the petition sought seizure of all the properties belonged to Niko in Bangladesh as compensation for the explosion in Tengratila-Chhatak gas field in Sunamganj in 2006.

BDST: 1404 HRS, AUG 24, 2017
SI/SMS