Corporate feuds drown in backlog as courts struggle
Dhaka, Feb. 13 -- Despite boasting 0.28 million registered companies and firms, the country faces a crippling shortage of dedicated courts to handle corporate disputes such as feuds over annual general meetings, share distributions or minority-shareholder rights.
Since there are no dedicated lower courts for corporate feuds, businesses resort to the two company benches within the High Court (HC) Division.
This leads to a massive backlog of 15,000 cases.
Against the backdrop of such scant resources, the pending cases eventually delay resolution by 5-6 years, causing hardship for companies, shareholders and the overall economy.
The Companies Act of 1994 mandates that registered companies file disputes with dedicated company courts. Busi...
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