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The High Court, in its observation of the verdict, said that the officials concerned, including the general managers of the Bank of Bangladesh, are committing money laundering and criminals for personal gain.
The Superior Court said this by publishing the entire writ of a judgment of December 16 of last year.
High Court Magistrate Muhammad Khurshid Alam Sarkar approved the order following a petition seeking instructions to remove the current board of directors of the Bangladesh Industrial Finance Company (BIFC).
The High Court said: “It is unfortunate for the people of this country that while the Prime Minister works tirelessly for the economic development of the country, the concerned central bank officials in charge of supervising banks and financial institutions, especially the DGM, GM , Executive Director and Deputy Governors of the Bangladesh Bank. He’s pleasing the looters.
On December 16 of last year, the court issued a summary order in this regard. The full order was published today after the bank judge’s signature.
T-Mart, a private company that owns 10 percent of BIFC’s shares, filed a petition in Superior Court in March of last year. The petition seeks the appointment of an independent auditor to investigate the total amount embezzled by PK Haldar.
The petition said that the then BIFC board headed by PK Haldar embezzled around Rs 500 crore from BIFC and retired senior Mannan embezzled around Rs 1000 crore.
In the full order, the Superior Court said: “In this case, the CEOs who have been in charge of overseeing the activities of financial institutions since 2002 will be held accountable for causing a financial catastrophe.”
The High Court bench appointed retired Supreme Court Justice Moinul Islam Chowdhury from the position of Independent Director-President of BIFC to preside over its board meetings and annual general meetings.
