Chamber Court stays HC verdict that sentenced 5 top officials of Agrani Bank

The Chamber Court of the Appellate Division has stayed the High Court's verdict of 3 months' imprisonment for five top officials of Agrani Bank, including the bank's managing director Murshedul Kabir, for including the name of Moon Group in the Credit Information Bureau (CIB) list disobeying a court order.

Following Agrani Bank's leave appeal application, Justice M Enayetur Rahim yesterday stayed the HC verdict and set 18 March as the date for hearing on the case.

Lawyers said as a result of the order of the chamber court, the judgement of the HC will be suspended until 18 March. The five top officials of Agrani Bank do not have to surrender to the judicial court during this period and the police cannot arrest them.

Earlier on 23 January, an HC bench of Justice AKM Asaduzzaman sentenced the five top officials of Agrani Bank to 3 months' imprisonment for disobeying a court order.

The five bank officials were asked to surrender before the Dhaka Magistrate's Court within four weeks of the verdict.

Apart from the MD, the other four officials who received jail terms are Agrani Bank Deputy Managing Director-2 Shyamal Krishna Saha, Deputy Managing Director-1 Wahida Begum, Principal Branch General Manager M Fazlul Karim and General Manager AKM Fazlul Haque who is on leave preparatory retirement (LPR).

Lawyers said Moon Group owed Tk539 crore to Agrani Bank till 2017. On 20 September 2021, Agrani Bank's main branch sent a letter to Moon Group asking for payment of 25% of the due in instalments.

The letter read if 25% of the loan is not paid by 20 September 2021, Moon Group will be listed as a defaulter and the Bangladesh Bank's CIB will be informed accordingly.

Moon Group filed a declaratory case in the lower court of Dhaka challenging the validity of the letter from the bank. At the same time, a temporary ban was sought on the bank's letter. The lower court dismissed the petition.

When the Moon Group filed an appeal against that order, the HC issued a stay on the bank's letter on 2 December 2021. Besides, the

HC issued a ruling asking why the bank's letter should not be suspended.

Agrani Bank listed Moon Group as a defaulter due to non-payment of 25% loan instalments on time.

Later, Moon Group filed a contempt of court case in the HC against four executives including the MD of Agrani Bank.