HC summons PK Halder, 128 other

The High Court has summoned 129 loan defaulters, including the much-talked about Proshanta Kumar Halder known as PK Halder, from International Leasing and Financial Services Limited (ILFSL) to give their plans about refunding of the borrowed money.

The loan defaulters have been directed to appear in person around 10:30am on May 24 and 25 to explain when they will pay off the money that they have taken as loan from ILFSL, a non-banking financial institution.

They must state with specific dates within which they want to repay the money, the HC said in the summons order.

The court in its order said they will be permitted to come up with their pay-plan in installment so that they can gradually repay their dues within a reasonable time. 

The HC bench of Justice Muhammad Khurshid Alam Sarkar came up with the order on March 16 after a hearing on a petition filed by the ILFSL along with the lists of persons and entities, who took the loan from ILFSL, seeking necessary orders.

The full text of the HC order was released recently after the judge completed writing and signed it.

During hearing the petition on March 16, ILFSL's lawyer Md Mahfuzur Rahman Milon told the HC bench that the persons and entities, who borrowed loans from his client, should be brought before the court by issuance of summons for the purpose of assessing the damage caused to ILFSL.

The lawyer also said the loan defaulting persons and entities should be prosecuted for committing criminal offence of cheating and misappropriating public money or funds, their bank accounts should be frozen and they should be barred from transferring all sorts of movable and immovable properties for an effective disposal of the matter.

Lawyer Mahfuzur Rahman prayed to the HC bench to pass an order for confiscating their passports till disposal of the matter, according to the written order of the HC.      

After the hearing, the HC also directed the loan defaulters to show causes why the Anti-Corruption Commission should not be ordered to initiate proceedings against them for misappropriating public money.   

Mahfuzur Rahman said that ILFSL has an outstanding of about Tk 1,800 crore from these 129 borrowers.

PK Halder, former director of the company, and some of his cohorts embezzled a huge amount of money from the company. He is accused of embezzling and laundering a huge amount of public money from some other non-bank financial institutions.