Yunus loses last legal battle

The Supreme Court has dismissed the petition of Muhammad Yunus for reversing an earlier verdict on his sacking from Grameen Bank. UPDATES

Dhaka, May 5 (bdnews24.com)—The Supreme Court has dismissed the petition of Muhammad Yunus for reversing an earlier verdict on his sacking from Grameen Bank.

The full court of the Appellate Division also threw out another petition filed by nine bank directors against the High Court order that backed the Nobel laureate's removal as managing director.

The full court ended simultaneous hearings on the petitions on Wednesday, which Yunus, 71, did not attend.

The top appeals court in its judgement observed that the recall petition was filed out of 'misconception'.

It also clarified that the appeal was heard in line with Article 104 of the constitution, not as a recall petition.

The apex court ruled that Grameen Bank was a government institution, which means employees must abide by the state's mandatory retirement age of 60.

Yunus and his lawyers have maintained that it was a private bank.

Asked whether Yunus had lost the final legal battle with Thursday's judgement, attorney general Mahbubey Alam said, "Let's see if they file any review petition."

Yunus' lawyer Kamal Hossain was clearly annoyed.

He told reporters the constitution had been entirely violated in the Supreme Court. "We went to the Supreme Court to protest it, but we did not get [justice]."

"I have been practising for 52 years, but never witnessed such an unprecedented incident.

"I reckon I have to enrol at the university once again to learn the twenty-first century's constitutional rights," a frustrated Hossain said.

The nine directors urged the government to appoint Yunus as chairman of Grameen Bank in a press statement immediately after the court order.

But attorney general Alam told reporters, "This is not possible, because the Grameen Bank chairman is appointed among the state nominated ones from the bank's board of directors."

Yunus and the nine directors filed separate petitions challenging the legality of his removal, but the High Court in its verdict on Mar 8 dismissed the petitions.

The central bank and financial sector regulator Mar 2 removed the Nobel laureate as the micro-lender's managing director for allegedly flouting rules when he was reappointed in 1999.

It said Yunus, 70, had no legal authority to act as the micro-lender's managing director, since its board had not obtained the Bangladesh Bank's sanction to re-appoint him beyond the bank's official retirement age.

Yunus' legal team argued that Grameen Bank had been given special status and it was exempt from the rule.

Later, on Mar 9, Yunus filed a petition seeking a stay on the High Court order.

The Appellate Division upheld the High Court verdict on Apr 5 when Yunus and the nine directors prayed for further hearing and a recall of the judgement.

The removal of Yunus drew flaks from home and abroad with the US warning that bilateral ties would be affected if an amicable resolution was not found.

Main opposition BNP also spoke against the decision, while his supporters said the firing was the culmination of a political vendetta against him.

Prime Minister Sheikh Hasina has accused Yunus, who briefly set up his own political party in 2007 during the military-run caretaker government, of using 'tricks' to avoid taxes and 'sucking blood of the poor' with his bank's loans.

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