The High Court bench of Justice Zubayer Rahman Chowdhury and Justice Md Ataur Rahman Khan gave the order on Thursday after hearing a petition by the mobile phone operator.
Citycell, the oldest operator, faces closure as it has failed to pay its dues.
Bangladesh's lone CDMA operator, which has seen a massive exodus of its subscribers, owes the government Tk 4.775 billion in dues.
Bangladesh Telecommunication Regulatory Commission (BTRC) issued two notices on Jul 31 and Aug 17, where it advised subscribers to switch operators.
Citycell's counsel Mostafizur Rahman said the court issued a rule over the notices and sought explanations. "According to the telecommunications Act, the BTRC has no jurisdiction to issue such public notices."
He said they told the court that the license awarded to Citycell is still valid. "How can they issue notices advising subscribers to switch from a company which is operating with a valid licence?"