Controversial e-commerce platform Evaly’s former chairman Shamima Narsin has transferred 50 per cent shares of her part of the company in favour of her mother Farida Talukder Lily and her sister’s husband Md Mamunur Rashid.
Shamima who was the owner of 0.6 million shares of the company has completed the process of transferring the shares after getting released from jail on April 6 this year. Now she owns 0.3 million shares of the company.
She mentioned this in an application placed in the High Court for adding her as a party of a case that was filed seeking HC directives for winding up of the company and for distribution of net asset cash fund among the creditors on the basis of their present credit ratio.
After hearing the petition, the High Court bench of Justice Muhammad Khurshid Alam Sarkar allowed Shamima as a party of the case.
The court, however, didn’t pass any order over another application filed by Evaly's former managing director and chief executive officer Mohammad Russel seeking a directive upon the Registrar of Joint Stock Companies and Firms (RJSC) to execute registration of the transfer of 0.2 million shares of his part of the company in favour of his father in law, Md Rafiqul Alam Talukder, in the Dhaka Central Jail in Keraniganj.
Earlier on February 17 in 2022, the same High Court bench allowed former chairman Shamima and former managing director Mohammad Russel to transfer 50 per cent of their shares to three family members for running the company.
The three members are--- Shamima Nasrin’s father Rafiqul Alam Talukder, her mother Farida Talukder Lily and her sister’s husband Md Mamunur Rashid.
Although Shamima was able to transfer her shares after getting bail, Russel was unable to do so due to some legal obligations.
The law mandates that for the effective registration of share transfer, the transferor shall cause his physical presence before the office of the Registrar of Joint Stock Companies and Firms. The law also authorises registration of share transfer on Commission, subject to payment of prescribed fees, should there be any reasonable ground for the transferor not being able to be physically present before the office of the RJSC.
Russel is now in custody and it is not possible for him to be physically present before the office of the RJSC in order to facilitate the transfer process of his 0.2 million shares (50 per cent) in favour of his father-in-law.
In this circumstance, Russel filed the application with the High Court seeking its directive upon the RJSC to execute the registration of the shares of the company on commission in the Dhaka Central Jail in Keraniganj.
Following a petition filed by a customer the same High Court bench on September 22 in 2021 directed the concerned bodies to be restrained from selling, transferring, or otherwise dispose of the assets of the Evaly till disposal of the case filed with the High Court.
Later the court on October 18 in 2021 formed a 5-member body to oversee the overall management and the company affairs of the Evaly Limited.
The court-appointed Justice Shamsuddin Chowdhury Manik, a former judge of the Appellate Division of the Supreme Court, as the chairman of the company and Mahbub Kabir Milon, an additional secretary of the government, as the ex officio managing director.
Barrister Shamim Ahmed Mehedi appeared in the court on behalf of Shamima and Russel, while Barrister Syed Mahsib Hossain represented the customers.
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