ILFSL swindlers barred from travelling abroad by SC
The Supreme Court yesterday upheld a High Court order that banned 20 people, including much-talked Proshanta Kumar Halder, from leaving the country for allegedly embezzling Tk 3,000 crore from the International Leasing and Financial Services (ILFSL).
A three-member bench of the Appellate Division headed by Chief Justice Syed Mahmud Hossain passed the order after dismissing an appeal filed by two shareholder-directors of the non-bank financial institution challenging the HC order.
Halder, also known as PK Halder, a former managing director of NRB Global Bank and Reliance Finance, was involved in the embezzlement, according to media reports. But a central bank investigation put the figure at Tk 1,596 crore.
As per media reports in Canada, PK Halder is residing in Toronto. He is the director of a Canadian corporation P&L Hal Holding Inc. along with his brother Pritish Kumar Halder and wife Susmita Saha since July 3, 2014, according to records in the North American country.
After the SC passed the order, the Bangladesh Bank's lawyer Tanjib-Ul Alam told reporters that it was possible for the government to bring back the embezzled money, which has reportedly been laundered to Canada, through mutual assistance cooperation treaty.
Ahsanul Karim, a lawyer for ILFSL, told The Daily Star that the passports of the people involved with the company would remain seized and Khondker Ibrahim Khaled can run the organisation as its chairman following the SC order.
ILFSL has scope to place its appeal before the HC to stay afloat, he added.
Attorney General Mahbubey Alam represented the state.
Following a petition filed by the two depositors, the HC on January 21 directed the central bank and all private banks to freeze the accounts of PK Halder, his five relatives, Bank Asia's former managing director Erfanudidn Ahmed and Halder's cohort Uzzal Kumar Nondi for allegedly misappropriating the funds.
The HC ordered the government to seize the passports of 20 people, including PK Halder, his mother Lilaboti Halder, his brother Pritish, his wife, cousins Amitav Adhikari and Avijit Adhikari, Ahmed and Nondi.
The HC bench of Justice Muhammad Khurshid Alam Sarkar also directed the authorities not to transfer any of their movable and immovable properties, including stock, cash money and cars to any persons or entities until the disposal of the case.
The bench appointed Khaled, a former deputy governor of the BB, as the independent director and chairman of ILFSL to run the company.
In an investigation, the central bank found that Tk 1,596 crore was transferred from ILFSL in violation of rules through 48 accounts of various organisations related to the directors and shareholders of the NBFI, Md Shah Alam, an executive director of the BB, told the SC on Tuesday.
The Anti-Corruption Commission (ACC) filed a case against Halder on January 8 on charges of amassing assets worth Tk 275 crore.
His name came to the limelight during the anti-casino operation. The ACC opened investigation against 43 people, including Halder. He was asked to appear at ACC for interrogation on November 14 last year. But he never showed up.
The government issued a travel ban on him on October 3. But he managed to flee the country nevertheless.
The four institutions grabbed by PK Halder are ILFSL, People's Leasing and Financial Services, FAS Finance and Investment and Bangladesh Industrial Finance Company.
The authorities in July last year appointed a liquidator to liquidate Peoples' Leasing due to alarming deterioration of its financial health over the several years.
Halder is also involved with Simtex Industries, Rahman Chemicals and Northern Jute Manufacturing Company.
Loans amounting to Tk 170 crore had been taken from ILFSL in the names of Simtex, Rahman Chemicals and Northern Jute, documents show.
ILFSL began its journey in 1996.
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