A High Court Division bench of the Supreme Court yesterday issued a rule upon the gov eminent and the Comptroller of Insurance to show cause why a notification prohibiting purchase of shares worth more than Tk 60 lakh by independent members of a family should not be declared ultra litres of the Constitution, reports UNB

The bench comprising Justice Ismail Uddin Sarker and Justice Hamidul Haq issued the rule answerable within four weeks

"Die court also stayed the operation of the notification on the application of Naslruddin Ahmed a shareholder of the Karnaphuii Insurance Com pany. who challenged the aforesaM notification on the ground that his fundamental right to carry on with his own business had been violated by

The petitioner purchased 55.000 shares from two sponsor directors of the compsny one of whom is his mother The Comptroller of Insurance, having found that the family. including the son. now owns shares worth Tk 1.30 crore, passed an order in the notification directing the petitioner to transfer or sell the shares beyond Tk 60 lakh.

Barrister Moudud Ahmed, who appeared for the petitioner. said the notification and the order passed by the Comptroller are violative of Article 27. 31 and 40 of the Constitution.