The High Court has summoned 64 loan defaulters of the People’s Leasing and Financial Services Limited (PLFSL), a non-bank financial institution, for not complying with its order to reschedule their defaulted loans with the lending company.
The defaulters have been asked to appear before the court on April 11, 12, and 19 this year, in failing which the court will issue an arrest warrant against them, said the court.
The High Court bench of Justice Muhammad Khurshid Alam Sarkar passed the order on Monday after hearing a petition filed by the court-appointed board of directors of the PLFSL.
Barrister Mejbahur Rahman who appeared in the court hearing for the board of directors of the PLFSL said, “The court in an order passed on July 12 in 2021 reconstituted the PLFSL body and asked the loan defaulters to reschedule their loan by depositing a down payment. However, many of the borrowers including these 64 did not comply with the court order for rescheduling the loans nor made any response.”
“In this circumstance, we prayed to the court in three steps to pass direction regarding the loan defaulters. After hearing the petitions the court asked 64 loan defaulters to appear before it on April 11, 12 and 19,” added the lawyer.
The court ordered the chairman, managing director, and other directors of Nahar International Company to appear before the court on April 11 on behalf of their company. The other borrowers will appear on April 12 and 19.
Following a petition filed by the depositors of the PLFSL, the High Court on July 12 in 2021 reconstituted the Board of Directors of the People’s Leasing and Financial Services Limited in a bid to revive it instead of winding up.
Barrister Kamal Ul Alam, a senior lawyer of the Supreme Court, had been appointed as the chairman of the board.
The court also appointed Anwarul Islam Sikder, a former secretary; Hasan Shaheed Ferdous, a retired senior district and sessions judge; Abdul Halim Chowdhury, a former managing director of the Pubali Bank Ltd; Brigadier General (retired) Kazi Taufiqul Islam; and Noor-E Khoda Abdul Mobin, FCA, as members of the board.
The list also included the names of Mowla Mohammad, an FCA, Dr Nashid Kamal, a representative of the depositors, Dr Nurul Kabir, chairman of the finance department at North South University, and Mohammad Jalal Uddin, a former managing director of Ansar VDP Unnayan Bank.
In that order the High Court also asked the borrowers to contact with the head office of the PLFSL for reschedule of their respective loans in accordance with law by making a down-payment within 30 days. And if they fail to start to make payments, they shall be under an obligation to appear before this court in person in order to explain their position, the court also observed.
