Upon a bail petition filed by them, a division bench of the HC also issued a rule on the government asking it to explain why regular bail should not be granted in the case. Mahmudur Rahman is also a respondent of the rule.

All the five personalities appeared before the court while their counsels moved the bail prayer for them in a jam-packed courtroom.

The five are renowned economist and Centre for Policy Dialogue (CPD) Chairman Prof Rehman Sobhan, its Executive Director Dr Debapriya Bhattacharya and CPD trustee board members former adviser to caretaker government Syed Manzur Elahi, former finance minister M Syeduzzaman and former president of Metropolitan Chamber of Commerce and Industry (MCCI) Laila Rahman Kabir.

As the matter was the talk of the town for the last two days, lawyers, litigants and many others were curious to observe moving the bail petition for them and its outcome.

Dr M Zahir, barrister Mainul Hosein and barrister Rokanuddin Mahmud moved the bail petition while many other lawyers were present to assist them, if needed.

The petitioners' counsels argued in their submission that in a defamation suit, court usually issues summons but a different situation has been created through issuance of arrest warrants in this case.

They also submitted that the petitioners (five eminent citizens) did not call Mahmudur Rahman a 'Razakar' and that a case has been filed against them on the basis of a distorted news item.

The counsels argued that the five petitioners are eminent personalities. As a magistrate's court hurriedly issued warrants of arrest, the petitioners apprehend they would not get justice in that court. And for this, they came to the HC for bail.

Opposing the bail petition Deputy Attorney General Mokhlesur Rahman said since it is a bailable offence, the petitioners could seek bail in the magistrate's court.

He also submitted that yesterday was not fixed for hearing of the bail petition. So, it should not have come up on the list for hearing.

Soon after getting bail, Debapriya expressed his satisfaction.

Mahmudur Rahman, also adviser to the energy ministry, said on Wednesday that Debapriya has no right to stay in this country.

Debapriya told newsmen on the court premises yesterday that it is not the duty of BoI to decide who should stay in the country and who should not. If it does so, what will be the investment situation in the country, he asked.

Metropolitan Magistrate Syed Mohammad Mujibul Haq issued the arrest warrants after Mahmudur Rahman filed the case with the Chief Metropolitan Magistrate's Court, Dhaka.