The High Court (HC) on Monday 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 company.
The defaulters were asked to appear before the court on April 11, 12 and 19, in failing which the court would issue arrest warrant against them.
The HC bench of Justice Muhammad Khurshid Alam Sarkar passed the order after hearing a petition, filed by the court-appointed PLFSL board of directors.
Barrister Mejbahur Rahman, who appeared in the court hearing for the PLFSL board, said: "The court, in an order - passed on July 12, 2021, reconstituted the PLFSL board, and asked the loan defaulters to reschedule their loans by giving a down-payment."
"However, many of the borrowers, including these 64, neither complied with the court order for rescheduling 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 the 64 loan defaulters to appear before it on April 11, 12 and 19," he added.
The HC 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 were asked to appear on April 12 and 19.
Following a petition - filed by the PLFSL depositors, the HC reconstituted its board of directors on July 12, 2021 in a bid to revive the company instead of winding up.
Barrister Kamal Ul Alam, a senior lawyer of the Supreme Court, had been appointed as the board chairman.
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, FCA; Dr Nashid Kamal, a representative of the depositors; Dr Nurul Kabir, chairman of finance department at the North South University; and Mohammad Jalal Uddin, a former managing director of the Ansar VDP Unnayan Bank.
In that order the HC also asked the borrowers to contact with the PLFSL head office for rescheduling their loans by making a down-payment within 30 days.
If they fail to make payments, they would be under an obligation to appear before the court in person in order to explain their position, the court also observed.
