The High Court yesterday issued a rule asking the authorities concerned to explain why they should not be directed to close down Destiny 2000, a controversial multi-level marketing company, as its directors are not available to run its operations.

Destiny 2000 has been asked to reply to the rule. The bench of Justice Md Rezaul Hasan issued the rule after hearing a petition filed by Lt Gen (retd) M Harun-Ar-Rashid, one of the seven directors of Destiny 2000, and its five shareholders seeking permission to hold an annual general meeting of the company.

In the rule, the HC bench also asked the respondents to show causes as to why the petition should not be converted to a petition to wind up the firm's operations.

While passing the order, the court asked, “How can a director hold the company's annual general meeting when two out of seven directors of Destiny 2000 are in jail and four are absconding?”

The company's only director, Lt Gen (retd) Rashid, is on bail on condition that he cannot be involved with affairs of the company during investigation of the cases filed against him, the court said, adding that the bank accounts of the company will remain frozen.

Barrister Siddiqur Rahman Khan appeared for the petitioners.