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The Financial Express

High Court likely to form four-member body to oversee Evaly’s company affairs

| Updated: October 12, 2021 19:30:20


High Court likely to form four-member body to oversee Evaly’s company affairs

The High Court is likely to form a four-member body to oversee the management and business activities of controversial e-commerce platform Evaly, said concerned lawyers.

A chartered accountant, a lawyer, a secretary and a former judge will be included in the body. The court has already asked the commerce ministry to propose names of three secretaries for including one of them in the four-member body.

The High Court bench of Justice Muhammad Khurshid Alam Sarkar will pass an order on Wednesday over the issue.

Following a petition filed under the Companies Act-1994, the same High Court bench on Sep 22 directed the authorities concerned not to sell, transfer or dispose of the assets of Evaly Limited until the disposal of the case filed with it.

Evaly, Registrar of Joint Stock of Companies and Firms, Bangladesh Financial Intelligence Unit, Consumer Rights Protection Bureau, Nagad, bKash, Bangladesh Competition Commission, e-Commerce Association of Bangladesh, Bangladesh Association of Software and Information Services, Bangladesh Bank and commerce secretary were asked to comply with the order.

And on September 30 the bench called for all records of the Evaly Limited. The Registrar of the Joint Stock of Companies and Firms was directed to send the entire records of the company on October 12 this year to this court.

Complying with the High Court order the Registrar of the Joint Stock of Companies and Firms sent all records of the Evaly on October 11 which was placed in the court on Tuesday.

In the earlier order, the court said for effective and fair disposal of this matter, the whole record of the Evaly Limited, which is now lying under the custody of the Registrar of the Joint Stock of Companies and Firms, is required to be called for examination by this court.

Accordingly, the Joint Stock of Companies and Firms is directed to send the entire record of the company (Evaly) on October 12 to this court, the court also said in its order.

Md Farhad Hossen, a customer of the Evaly, filed a petition on Sep 22 seeking HC directives to wind up the Evaly and distribute net asset cash fund among creditors.

He also sought a court order to direct the respondents to restrain or prohibit Evaly from selling, transferring or disposing of its assets.

Mr Hossen also made a plea for the formation of a board of directors to take control of the e-commerce entity's affairs, management and business.

But the court said the prayer for a board to control Evaly's company affairs, management and business would be considered after the appearance of the respondents.

Barristers AM Masum and Syed Mahsib Hossain appeared in the court on behalf of the petitioner.

According to the petition, Farhad Hossen gave payment through mobile financial services bKash and Nagad for purchasing products worth Tk 33,308 last May. But he has so far failed to get his products despite repeated contacts with the Evaly authorities.

On September 16, another client Arif Baker sued Evaly CEO Mohammad Rassel and chairman Shamima Nasrin with Gulshan police station for not delivering him products despite taking advance payment.

Following the case, the RAB personnel arrested them from their Mohammadpur residence the same day. They were taken to RAB headquarters and later handed to Gulshan police on September 17 after a briefing.

Mr Rassel and his wife Nasrin are now in jail in the cases filed against them with different police stations.

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