Envoy Textiles calls EGM on 2 March

Envoy Textiles Limited will hold its Extraordinary General Meeting (EGM) on 2 March, which has been pending due to a legal battle among the owners.

The board of directors of the company on Tuesday decided to convene the earlier postponed EGM on 2 March at 10:00am.

The meeting will be conducted physically at Auditorium Hall-1 of Gulshan Shooting Club in the capital's Gulshan Avenue, according to a news published on the website of Dhaka Stock Exchange.  

However, two board members of the company – former managing director Abdus Salam Murshedy and his daughter and deputy managing director Shehrin Salam Oishee – were absent in the board meeting.

M Saiful Islam Chowdhury, company secretary of Envoy Textiles Ltd, said the company's shareholders will confirm the appointment of managing director and deputy managing director in the EGM.

Earlier, the High Court appointed Tanvir Ahmed, son of Kutubuddin, as managing director, and Shehrin Salam Oishee as deputy managing director.

On 30 January, the Appellate division of the Supreme Court directed Envoy Textiles Limited to hold its pending EGM to appoint a managing director and a deputy managing director within the next 10 days.

A six-member bench of the Appellate Division, led by Chief Justice Obaidul Hassan, issued the order after hearing on an appeal petition filed by Envoy Textiles.

The petition was lodged against a High Court stay order pertaining to holding the EGM.

The company had decided to hold the EGM on 29 January in accordance with a High Court order.

However, the High Court ordered a halt to the EGM following a writ petition by Barrister Shehrin Salam Oishee.

The legal saga began in June 2022 when Abdus Salam Murshedy contested a potential cessation of his position as managing director of Envoy Textile.

Subsequently, the High Court appointed Tanvir Ahmed as the company's new managing director.

In response, Murshedy challenged Tanvir's appointment, filing an appeal before the Appellate Division of the Supreme Court.