& çâÌæÚUæð´ ·¤è ¥ôÚU Îð¹Ùæ ÁæÚUè ÚU¹ð´ ¥ÍæüÌ ¥ÂÙð ÜÿØ ÂÚU ŠØæÙ ÚU¹ð´Ð ãæÚU Ù ×æÙð´, €UØô´ç·¤ ·¤æ× ·¤ÚUÙð âð ¥æÂ·¤ô ©gðàØ ·¤è Âýæç# ãôÌè ãñ ¥õÚU ÁèßÙ ·¤æ ¹æÜèÂÙ ÎêÚU ãôÌæ ãñÐ ÖÜð ãè ÁèßÙ ×ð´ ç·¤ÌÙè Öè ·¤çÆÙæ§ü €UØô´ Ù ¥æ°, çÁ™ææâæ ¥õÚU ©ˆâæã ÕÙæ° ÚU¹ð´Ð ŠØæÙ ÚU¹ð´, ÜÿØ ã×ðàææ ¥æÂ·Ô¤ Âæâ ãôÌð ãñ´ çÁ‹ãð´ ÂæÙð ·Ô¤ çÜ° ÂýØæâ ¥æÂ ·¤Öè Öè àæéM¤ ·¤ÚU â·¤Ìð ãñ´Ð

Chowdhury’s death sends Observer into a spin

By Staff Correspondent
The future of the management of the Bangladesh Observer and the weekly Chitrail goes into a state of uncertainty with the death of Hamidul Huq Chowdhury, according to media circles
Till his death Saturday. Chowdhury was the the Chairman of the Board of Directors of the Al-Helal Printing and Publishing Company Limited, publishers of the two publications.
As the founding owner he welded overall authority tn all of the company’s affairs, sources said, adding that none of the existing directors, reportedly seven in number now. including the chairman could play an effective role in the decision-making process.
Hamidul Huq Chowdhury also functioned as the chief
Executive of the company and was the sole signatory to all cheques.
Launching the erstwhile Pakistan Observer in 1949. Hamidul Huq Chowdhury always had the controlling Interest of the company. But after 1971 the company was taken over by the government as he lived in exile till 1978. The company was returned by the government in 1984.
According to the Memorandum and Articles of Association of the Al-Helal Printing and Publishing Company Limited formulated in 1983. the company had four directors at the time. They were Hamidul Huq Chowdhury, his son Khaled Hamidul Huq. daughter Najma Huq and M.A. Malek. The nominal Capital of the company was Taka 25 lakh divided Into 2.498 ordinary shares of Taka 100 each and 400 deferred shares of Taka 5
There are at present seven members on the board of directors. including the late chairman. Khaled Hamldul Huq. daughters Nargis Rahman. Nafisa Huq and Nover a Huq. son-in-law Manzur Ahmed Chowdhury and Mozibul Huq representing an outside minority shareholder.
The board of directors will have to elect a chairman from among the company directors. Observers pointed out that Khaled Huq and Manzur Chowdhury are likely to be the major contenders for the post of chairman of the company.
Manzur Chowdhury, a former Ambassador, had been appointed as the Managing Director of the company by late Chowdhury In 1988 But his appointment was bitterly opposed at the time by Chowdhury’s only son Khaled Huq.
Consequently Atanzur Chowdhury could not take over his function as the managing director of the company at that time
Press circles believe that Khaled Huq may once again thwart the appointment of Manzur Chowdhury as chairman of Bangladesh Observer and Its allied publications. Some resistance may also crop up from the side of Manzur Chowdhury too. But the Islamic Law of Inheritance goes to an extent ip favour of Khaled Huq. th^y added.
However, sources said that there was also a possibility of a family compromise of a sort that one person may become the chairman while the other, the chief executive of the company.
Bangladesh Observer Is generally regarded by press circles as one of the most profitable newspapers in the country with an estimated daily turnover of about Taka One lakh.