People’s Leasing starts refunding depositors

The board of directors of People’s Leasing and Financial Services Limited (PLFSL) has started returning money to depositors.

After taking permission from the High Court the board of directors of the financial institution has so far returned Tk 14.12 crore to the depositors.

In continuation of this, the board of directors filed an application with the HC bench of Justice Khurshid Alam Sarker seeking permission of returning Tk 3.70 crore to the 582 small depositors, who deposited money in the company up to Tk 1 lakh.

The HC bench gave its permission to the board of directors for returning the money to the depositors.

After taking permission from the HC, Barrister Mezbahur Rahman, counsel of the company, told reporters that the board of directors will refund Tk 3.70 lakh on priority basis to the 582 small investors who had invested up to Tk 1 lakh in PLFSL.

The company will have to return a total of Tk 30,700,000.

On January 24, 2021, the Anti-Corruption Commission (ACC) arrested four people in connection with the PK Halder money laundering case.

The arrestees included Ujjwal Nandi, chairman of PLFS.

Later, 201 depositors approached the High Court seeking directions to revive PLFS.

On 28 June last year, the High Court formed a 10-member board to manage the financial institution, which was involved in the PK Halder case.

Senior Supreme Court lawyer Kamal Ul Alam was appointed as the chairman of the Board by the High Court.

Former secretary Anwarul Islam Shikder, retired district and sessions judge Hasan Shahed Ferdous, former managing director of Pubali Bank Abdul Halim Chowdhury, retired brigadier Kazi Tawfiqul Islam, FCA Noor-e Khoda Abdul Mobin and Mawla Mohammad were members of the board.

On June 1, senior lawyer Kamal Ul Alam resigned from the chairmanship of the board of directors of People’s Leasing citing health reasons.

Later, retired district and sessions judge Hasan Shahed Ferdous was nominated as the chairman of the company.