Kathmandu. A Bangladeshi court has ordered the confiscation of the properties of those who did not repay the loan. However, these properties are still illegally occupied.
The court has issued an arrest warrant but the police have failed to arrest the accused. In other cases, after the writ petition is dismissed, the petitioner files a new petition in another court. However, 44 writpetitions have been filed against the verdict in the same case.
The developments came to light at a meeting with the Financial Institutions Division (FID) of bangladesh’s finance ministry on Thursday on expeditious resolution of 100 pending cases related to 11 banks, financial institutions and regulators. The meeting was chaired by FID Secretary Najma Mobare.
The meeting was attended by senior officials of Sonali, Darhi, Janata, Rupali, BDBL, BASIC Bank, state-owned General Insurance Corporation, Bangladesh Agricultural Bank, Rajshahi Krishi Unnayan Bank, Bangladesh Investment Corporation and Bangladesh Securities and Exchange Commission. Cases related to banks usually include writs, debt recovery cases, certificate cases and default or other cases:
Among them, the highest number of certificate cases occur. Which has already crossed 150,000. However, these cases involve the lowest amount. In contrast, 100 identified cases of 11 entities include a total of TK 376.03 billion. These include default loans, fines and in some cases claims made by customers against institutions.
In the meeting, it was decided that the Ministry of Home Affairs will seek cooperation from divisional commissioners, attorney general, deputy commissioners and sub-registrar offices to expedite the resolution of FID issues. Each organization will appoint a focal point and continuously monitor it. Managing directors and heads of institutions will meet monthly and report updated progress to FID.
Sonali Bank had informed the meeting that it had already filed many such cases while raising the issue of land registration and possession in the appropriate court. Once 44 writ petitions were filed against the same verdict. Of these, 43 were dismissed and only one is under consideration.
FID urged the Securities and Exchange Commission of Bangladesh and all institutions to ensure that the information is sent to the customer’s correct address. So that it cannot be claimed that the letters were not received later.
