Asks govt to seize its assets
HC declares illegal Niko deal with Bapex, Petrobangla
Observer Online Report
The High Court on Thursday declared illegal the Canadian company Niko's agreements with Bangladesh Petroleum Exploration and Production Company Ltd (Bapex) and Petrobangla.
Responding to a writ petition, a two-member HC bench of Justice Naima Haider and Justice Abu Taher Md Saifur Rahman passed the order.
The HC also issued a stay order on the operation of the agreement and any payments to Niko Bangladesh.
The court, however, directed the government to confiscate all the assets of the Canadian company in Bangladesh.
Niko signed the joint venture Gas purchase and sales agreement with Bapex in 2003 and with Petrobangla in 2006.
On May 9, 2016, the HC issued a rule asking as to why the joint venture deal of Niko with Bapex would not be cancelled.
UNB adds : Energy expert professor Shamsul Alam filed a writ petition in 2016 challenging the legality of the deals of Niko with the two state-run companies.
Barrister Tanjib ul Alam moved for the writ petitioner while Attorney General Mahbubey Alam stood for the state. Barrister Moin Gani represented Bapex and Petrobangla in the hearing.