Imprisonment Stance Of 5 Top Officials of Agrani Bank Stayed

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

Following Agrani Bank's leave appeal application, Justice M Enayetur Rahim stayed the HC verdict and fixed 18 March as the date for hearing on the case on Thursday (25 January).

Lawyers said, that as a result of the order of the chamber court, the judgment 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.

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

The five bank officials were asked to surrender at 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), petitioners' lawyer Advocate Nurul Amin told the media on Wednesday (24 January).

"HC has sentenced the top officials of Agrani Bank to 3 months imprisonment for contempt of court. At the same time ordered to seize their property. Detailed information will be known after the publication of the full verdict," he added.

Meanwhile, an application has been made to the Appellate Division on 24 January seeking to suspend the verdict, said Shamim Khaled, the lawyer of the bank officials.

 He said a hearing on the application may be heard in the Chamber Court of the Appellate Division on Thursday (25 January ).

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 installments.

The letter states that 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.

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

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

After the hearing case, on 23 January, the HC sentenced 5 officials including the MD, and DMD of Agrani Bank to 3 imprisonment and an executive officer who is on LPR.