HC declares Niko's deal with Bapex- Petrobangla illegal
Published : 24 Aug 2017, 13:11:36
The High Court on Thursday declared that Niko's deal with Bapex and Petrobangla is illegal.
The HC bench comprising justices of Naima Haider and Abu Taher Md Saifur Rahman passed the order.
HC also ordered the government to confiscate all the property of Canadian oil and gas company Niko Resources.
Niko inked the deals with BAPEX and Petrobangla in 2003 and 2006 respectively.
The High Court on May 9, 2016, issued the ruling, asking the authorities concerned to explain as to why it shall not declare illegal the deal signed between BAPEX and Niko. The court also stayed the effectiveness of the deal.
Energy advisor of Consumers Association of Bangladesh (CAB) Prof Shamsul Alam had filed the writ in this regard.