Staff Reporter :
Most of the loan defaulters of the People’s Leasing and Financial Services Limited (PLFSL), a non-bank financial institution, were not found in their respective addresses.
As a result, the court order that asked the borrowers to contact the head office of the PLFSL for rescheduling their respective loans by making a down-payment could not reach them properly, said Barrister Mejbahur Rahman, a counsel for the PLFSL.
He said, “Most of the persons who received margin loans from the PLFSL were not found in their respective addresses. As a result High Court orders could not be communicated to them.”
The lawyer also said, “We have submitted a list of more than 300 loan defaulters of the PLFSL
in the High Court recently. They were asked to appear in the court in five phases. But only 50 to 60 loan defaulters appeared in the court so far.”
The High Court then asked those 50 to 60 loan defaulters to reschedule their loan with a down-payment and inform the update to the court on August 2 this year, added the lawyer.
The High Court bench of Justice Muhammad Khurshid Alam Sarkar passed the orders recently.
The same High Court bench on July 12 in 2021 formed a new Board of Directors (BoD) for the PLFSL and in the same order it asked the borrowers to contact with the head office of the PLFSL to reschedule of their respective loan by making a down-payment within 30 days.
If they fail to start making payments they shall be under an obligation to appear before this court in person in ordered to explain their position, added the court in its order. However, many loan receivers didn’t comply with the court asking properly and many were not found in their respective address.
Following a petition filed by 201 depositors of the PLFSL to revive or reconstruct of the institution, the High Court bench formed the BoD.
Before passing the order the judge said that he held an online meeting with Bangladesh Bank (BB) governor, security and exchange commission (SEC) chairman and anti-corruption commission (ACC) chairman where BB governor opined that they had no objection if any initiative is taken to revive PLFSL.
