In 2022, while dealing with the case of Terab Ali and others v Syed Ullah and others (civil petition for leave to appeal no. 3135 of 2014), the Appellant Division of the Supreme Court of Bangladesh (AD) made an interesting observation regarding the nature of judicial power exercised by the Subordinate Judiciary of Bangladesh.
In the 2019 case, Southern Solar Power Ltd and another v Bangladesh Power Development Board and others [(2019) 2 LNJ] the High Court Division of the Supreme Court of Bangladesh (HCD) held, “the Constitution of Bangladesh empowers the High Court Division to declare any law to be void, this Court is competent to make observations about any law, including what ought to be in the Act.
From small barter societies to the world-wide acceptability of fiat money (mainly paper money or coin), the evolution of payment methodologies throughout human history has not been anything short of astonishing.
The Artha Rin Adalat Ain, 2003 (Money Loan Court Act, 2003) is the primary legal instrument dealing with bank and non-bank financial institutions’ (NBFI) loan defaulters, which prescribes mechanisms for the banks and financial institutions (FIs) to get reimbursed.