DHAKA, Jan 23, 2022 (BSS) - The Appellate Division of the Supreme Court 
today stayed a High Court judgment for appointing administrator in Delta Life 
Insurance Company Limited till February 6. 

   Declaring administrator appointment of the capital market listed Delta 
Life Insurance Company as illegal, the Appellate Division led by senior 
justice Md Nuruzzaman along with 5 justice of the bench passed the order.

   Barrister Mostafizur Rahman Khan stood in favor of the petitioner in the 
virtual hearing. 

   The Insurance Development and Regulatory Authority (IDRA) appointed 
administrator for four-months on February 11 last year, dismissing Delta Life 
Insurance's board of directors on charges of various irregularities including 
additional expenses.

   Besides, the IDRA also suspended board of directors of the insurance 
company as an allegation was also raised against IDRA's chairman M Mosharraf 
Hossain that he demanded Taka 50 lakh as bribe.

   The dismissed board of directors of the Delta Life Insurance Company filed 
a writ petition with the High Court by challenging the appointment of the 
administrator. Later, the High Court gave verdict after hearing of the writ.