SC asks govt to return Tk 6.15b to 11 cos

Dhaka,  Mon,  25 September 2017
Published : 16 Mar 2017, 11:02:32 | Updated : 16 Mar 2017, 11:48:26

Supreme Court orders to return Tk 6.15 billion 'confiscated' from 11 companies during caretaker regime

SC asks govt to return Tk 6.15b to 11 cos
The Supreme Court has ordered the government to return Tk 6.15 billion to 11 companies, which were 'confiscated' during the military-installed caretaker administration.

On Thursday, the four-member Appellate Division bench led by Chief Justice Surendra Kumar Sinha scrapped Bangladesh Bank's appeal against the High Court verdict in favour of the 11 organisations.

Counsel Ahsanul Karim, who represented the businesses, said, "Eleven appeals were filed against the High Court verdict. The court ordered to return the money of those companies who had moved the court."

On Jan 11, 2007, the military-installed interim government led by Fakhruddin Ahmed took office by ousting the then President Iajuddin Ahmed-led caretaker administration.

During the two-year emergency regime, many businessmen and politicians were arrested in a crackdown against 'corruption.'

Between April 2007 and November 2008, a huge amount of money was confiscated from almost 40 businessmen and organisations, which has been kept with the Bangladesh Bank.

Finance Minister AMA Muhith told the Parliament in 2010 that the funds confiscated during the emergency regime was almost Tk 12.32 billion, which is with the state exchequer.

As many as 11 companies moved the High Court over the 'confiscated' funds and secured verdicts in their favour.

Bangladesh Bank moved the Appellate Division against the High Court's order, which has been turned down on Thursday.


Editor : A.H.M Moazzem Hossain
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