Staff Reporter :
The Supreme Court (SC) on Monday extended for two months its stay on a High Court order that halted Bangladesh Bank’s circular allowing defaulters to reschedule their loans with a repayment period for 10 years and get further loans.
The apex court however issued a condition saying that the loan defaulters would not be allowed to get further loans by depositing two per cent down payment of the total loan amount.
The court also asked the HC bench led by Justice J B M Hassan to hear and dispose of the petition filed in this regard in next two months. A four-member bench of the Appellate Division of the SC headed by Chief Justice Syed Mahmud Hossain passed the order after a petition filed recently by the Finance Ministry seeking stay on the HC order.
On July 3, Chamber judge of the Appellate Division of the SC, Justice Md Nuruzzaman stayed the HC order till July 8 and sent it to the SC full bench.
Following a writ petition filed by Human Rights and Peace for Bangladesh (HRPB), the HC on May 21 issued a status quo till June 24 on the central bank’s May 16 circular that allowed defaulters to reschedule their defaulted loans upon a down payment of just two percent of the total loan amount up to 10 years, and to get further loans.
On June 24, the HC extended its May 21 order for next two months.
The HC bench of Justice F R M Nazmul Ahasan and Justice K M Kamrul Kader passed the order after hearing a writ petition filed by Human Rights and Peace for Bangladesh.
Writ petitioner’s lawyer Advocate Manzill Murshid told that the borrowers can reschedule their loans with 2 percent down payment of the total amount of the loans but they cannot get fresh loans from any bank following the SC order.
The Finance Ministry recently filed a petition with the SC seeking stay on the HC’s May 21 and June 24 orders.
Attorney General Mahbubey Alam appeared for the Finance Ministry, while Advocate Manzill Murshid argued for the HRPB.
