Staff Reporter :
The Appellate Division of the Supreme Court on Sunday upheld its earlier stay order upon a High Court order halting the decisions of Bangladesh Bank and Sonali Bank to reschedule a Tk 268.0 million loan taken by ruling party lawmaker ASM Feroz.
The Appellate Division at the same time asked the High Court Bench concerned to dispose of the ruling issued over the legality of Sonali Bank’s decision in loan rescheduling for the ninth time of ASM Feroz.
A six-member Bench of the Appellate Division headed by Chief Justice Syed Mahmud Hossain passed the order after holding hearing on a petition filed by the lawmaker in this regard.
Advocate Md Shamsul Alam appeared in the court on behalf of ASM Feroz, while Advocate Muhammad Mohsen Rashid appeared for the writ petitioner.
According to the case documents, Sonali Bank rescheduled Feroz’s loans for the ninth time on August 19 in 2018, before the 11th Parliamentary Elections, which was a violation of the banking rules. And the BB approved the state-run bank’s decision on September 20 the same year.
Patuakhali Awami League President Ziaul Haque then filed a writ petition with the High Court challenging the legality of the decisions of Bangladesh Bank and Sonali Bank.
Upon hearing the writ petitions, High Court Bench of Justice Sheikh Hassan Arif and Justice Razik-Al Jalil on November 22 in 2018 stayed the Bangladesh Bank and Sonali Bank’s decisions to allow M/S Patuakhali Jute Mills owned by Feroz to reschedule its loans of Tk 268.0 million.
The High Court also issued a ruling asking the Sonali Bank and the BB authorities concerned to explain as to why their failure to discharge their duties in accordance with the law over rescheduling of the bank loans should not be declared illegal.
Later ASM Feroz moved to the Appellate Division against the High Court order. The Chamber Judge of the Appellate Division on November 25 in 2018 stayed the HC order for eight weeks. The decision cleared the way for ASM Feroz to participate in the 11th general election.
Subsequently the petition came to the cause-list of the Appellate Division on Sunday. After hearing the regular bench of the Appellate Division upheld its chamber judge’s order and asked the High Court bench concerned to dispose of the ruling issued in this regard.
