Court asks govt to form body for fair disbursement of Destiny’s money


FE ONLINE REPORT | Published: May 12, 2022 17:42:57 | Updated: May 13, 2022 12:38:36


Court asks govt to form body for fair disbursement of Destiny’s money

A Dhaka Court has directed the government to form a six-member committee in order to disburse the money amongst the affected shareholders and investors of the Destiny Multipurpose Cooperative Society Limited (DMCSL) in a fair, transparent and equivalent way. 

A retired judge of the Supreme Court will be the chairman of the committee, said the court. It will also include two joint secretaries of the finance ministry and Cooperatives ministry, a deputy inspector general of police, a chartered accountant as the members. Registrar of the Cooperatives department will act as the member-secretary of the committee.

Judge of the Special Judge's Court-4 in Dhaka, Shaikh Nazmul Alam, on Thursday passed the order while delivering the verdict in the case filed over embezzling Tk 18.61 billion through Destiny Multipurpose Cooperative Society Limited.

The court in the verdict sentenced all the 46 accused to different terms of imprisonment in the case.

The police commissioner of Dhaka who earlier was appointed as the receiver of some properties of the Destiny Multipurpose Cooperative Society Limited was directed to handover the possession of immovable or movable properties, vehicles and all the income incurred from the properties along with a detailed report to the committee.

The committee is authorised to sale the forfeited movable and immovable properties in due process of law and the amounts shall be credited to in a bank account of the committee, also read the verdict.

The court said all the amounts kept with frozen and thereafter forfeited bank accounts shall be credited to the bank account of the committee. Concerned banks are directed to remit the proceeds of all bank-accounts along with cash balance in the accounts as per the list furnished to them and the proceeds shall be deposited in a bank account supplied to them by the disbursement committee.

The registrar of the department of cooperatives is directed to take all needful steps for liquidation and winding up of the DMCSL in due process of law and within a short time as far as practicable. Liquidation and winding up should take place under the guideline of the committee, the court said.

It is to be taken into notice that the property or amounts kept with bank and other assets of the DMCSL, already forfeited in favour of the state, no more belong to the DMCSL and shall be excluded for assessing the assets of DMCSL by the liquidator.

The court requested the Chairman of the Anti-Corruption Commission (ACC) to extend his cooperation to make the investigation officer available for his service to the committee about any matter connecting to this issue.

In an observation, the court said the assets of the Destiny Multipurpose Cooperative Society Limited belong to her shareholders and investors. The recoveries of their money are the real challenges of the case. 

bikashju@gmail.com

 

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