Khondokar Ibrahim Khaled, who was appointed to salvage the International Leasing and Financial Services Limited (ILFSL), has resigned as the director and chairman of the organisation on Sunday.
"There's no hope that the company can be salvaged," Ibrahim Khaled told The Business Standard today.
In the resignation letter, Ibrahim Khaled said he is unable to take much workload at this age. He is aged around 80.
However, he did not give any hint about financial condition of the leasing company in the letter.
The financial institution allegedly embezzled Tk3,500 crore of the customers.
On January 21, the High Court ordered that the government to confiscate all assets and freeze the bank accounts of International Leasing's director Proshanto Kumar Halder and 19 of his colleagues.
The 19 others are either directors of the leasing company or family members or friends of Proshanto Kumar.
On the same day, the court appointed Ibrahim Khaled as the director and chairman of the company to check whether the financial institution can be salvaged or not.
The next hearing is scheduled to be held on Tuesday as the court directed Ibrahim Khaled to submit a report listing all assets of Proshanto Kumar Halder and the others.