Staff Reporter :
The High Court on Tuesday expressed its deep anger over the role of the Bangladesh Bank and the Anti-Corruption Commission (ACC) in preventing irregularities from the financial institutions.
The court said that a section of Bangladesh Bank officials who were in charge of the financial institutions had sucked honey from the organizations.
It also said the corrupt officials of the central bank took benefits from the borrowers including much-talked Proshanta Kumar Halder, popularly known as PK Halder. So they should be stopped, added the court.
In this context, the court mentioned Bangladesh Bank’s executive director Shah Alam as a thief.
During another context the court said that it had passed an order over money laundering by PK Halder and his cohorts on June in 2019. But in January in 2020 the company informed the court that PK Halder had left the country. What the ACC had done in that six months time, questioned the court.
The High Court bench of Justice Muhammad Khurshid Alam Sarkar came up with the observation while holding hearing on a case filed by provisional liquidator of the People’s Leasing and Financial Services Limited (PLFSL) Md Asaduzzaman Khan.
The HC bench in November last year sought a list of the loan defaulters from PLFSL, a non-bank financial institution which is on the process of winding up. Then the provisional liquidator of the company submitted a list before the HC bench on November 23.
After holding hearing on the list the High Court on January 20 summoned 280 loan defaulters from People’s Leasing and Financial Services Limited and directed 143 of them to appear before it on February 23 and other 137 to appear on February 25 to place their explanations on this issue.
Complying with the court order 51 borrowers came to the court on Tuesday. The borrowers who didn’t come on Tuesday will face arrest warrant if they fail to appear in the court on March 9, said the court.
Some of the borrowers sought time from the court to pay the amount, but some of the borrowers told the court that they were not aware about the burden as they didn’t take any amount from the company.
During yesterday’s (Tuesday) hearing the High Court also said, “The borrowers who have come here want to pay the money. But the court cannot collect the money. Board of the company has to be revived for that.”
“Bangladesh Bank needs to do something about this. But in the last two years they did nothing. So I summoned them.”
“Earlier I appointed NI Khan as the chairman of the International Leasing and Financial Services Limited (ILFSL). He has already collected Tk 1.0 billion from the borrowers. But a court cannot act as the supervisor of a financial institution. Bangladesh Bank is the authority to oversee the institutions,” added the court.
Meanwhile, the court will hear the Bangladesh Bank governor, Anti-Corruption Commission Chairman and Bangladesh Securities and Exchange Commission (BSEC) Chairman to get opinions on how to work in an integrated manner to prevent irregularities and corruption in various financial institutions.
They have been asked to give their opinion on February 25 by virtually joining the court.
Barrister Mejbahur Rahman took part in the hearing on behalf of the provisional liquidator of the People’s Leasing and Financial Services Limited, while Barrister Tanjib-Ul Alam appeared for the Bangladesh Bank.
