HC sentence against Agrani Bank MD and four other officials stayed

 
The Appellate Division of the Supreme Court (SC) on Thursday stayed until March 18, 2024, a High Court (HC) verdict that sentenced five Agrani Bank officials, including its Managing Director (MD) and CEO Md Murshedul Kabir to three months' imprisonment.

Justice M Enayetur Rahim, Chamber Judge of the Appellate Division of the SC, passed the order after hearing a petition filed by the state against the High Court verdict. The chamber judge also sent the matter to the regular Appellate Division bench for a detailed hearing on March 18.

Attorney General AM Amin Uddin appeared in the court hearing on behalf of Agrani Bank, lawyers Momtazuddin Fakir, Shamim Khaled and Tanjib ul Alam appeared for the bank officials, while lawyers Yusuf Hossain Humayun and Nurul Amin represented the Moon Group. Earlier on January 23 this year, a High Court bench sentenced five Agrani Bank officials, including its Managing Director (MD) and CEO Md Murshedul Kabir to three months' imprisonment for not complying with its order.

The other bank officials are--- Agrani Bank's Deputy Managing Director-1 Wahida Begum, Deputy Managing Director-2 Shyamol Krishna Saha, General Manager (GM) Mohammad Fazlul Karim and Principal Branch's Manager AKM Fazlul Haque.

The High Court bench of Justice A K M Asaduzzaman delivered the verdict after hearing a contempt of court petition. The officials were asked to surrender before a magistrate court in Dhaka within four weeks after receiving a copy of the verdict. Lawyer Momtazuddin Fakir said the bank will get Tk 5.39 billion from the Moon Group.

According to the case documents, Moon International Printing Press Limited's owner Mizanur Rahman received a loan of Tk 2.31 billion from the Agrani Bank to establish Moon Tower in Dilkusha area in the capital. At one state, Agrani Bank purchased 98,235 square feet space of that building and the bank adjusted the payment against the loan.

However, the Agrani Bank further demanded Tk 197.7 million from the Moon Tower owner against the bank loan. A letter was sent to Moon International Printing Press Limited's Managing Director Mizanur Rahman in 2021 demanding the amount. Mizanur then filed a case in a trial court against the legality of the letter.

Following the letter, the trial court issued a show cause notice to the bank authorities. But it rejected another prayer that sought an injunction on the effectiveness of the letter. Then Mizanur moved the High Court that also sought explanation from the bank authorities regarding the issue.

Later on December 2 in 2021, the HC also issued a status quo on the effectiveness of the letter. It also issued a rule upon the respondents to explain as to why they should not be directed to cancel the letter. The HC asked the parties to maintain the status quo on the effectiveness of the letter till disposal of the rule.

Despite the HC status quo, the bank authorities further issued a letter to Mizanur demanding their claim. In that letter, Mizanur was shown as a loan defaulter.

In this situation, Mizanur filed two separate petitions with the HC against the Agrani Bank officials. In the petitions, he brought allegations of contempt of court charge against the bank officials.

In the last parliamentary election, Mizanur submitted his nomination paper from Borguna-2 constituency as a candidate of Jatiya Party. However, the Agrani Bank authorities issued a letter to the Deputy Commissioner of Borguna saying that Mizanur is a loan defaulter. Finally, his candidacy was cancelled.

Mizanur also filed a petition with the HC against the letter issued that termed him a loan defaulter. Upon hearing the three petitions together, the HC bench sentenced five Agrani Bank officials to three months' jail.