PLFSL Loan Default

Foreign travel by 122 banned

Staff Correspondent | Published: 00:49, Mar 16,2021


The High Court on Sunday slapped a ban on foreign travels of 122 loan-defaulters of the People’s Leasing and Financial Services Limited as they did not turn up to the court after receiving its summons.

The company bench of Justice Muhammad Khurshid Alam Sarkar issued the directive to the law enforcement agencies.

Fugitive former NBR Global Bank managing director PK Halder, who is wanted in several loan scams and money-laundering cases, has an alleged link with the bankruptcy of the PLFSL. 

On January 21, the High Court summoned 286 loan-defaulters of the PLFSL to appear before the bench to explain their positions on repayment of the loans.

Out of the total, 164 defaulters appeared in the court, which asked them to repay their loans in instalments.  

But 122 defaulters ignored the summons.

The company court summoned the 286 loan-defaulters after the PLFSL had submitted a list of 497 loan-recipients on November 23, 2020 as per the court order.

The court summoned the defaulters who have loans above Tk 5 lakh but failed to repay.

PLFSL lawyer Mejbahur Rahman told the court that the 286-defaulters owed the company Tk 1,655 crore.

The court summoned the defaulters during the hearing of an application filed by the Bangladesh Bank in January 2020 seeking a directive to wind up the PLFSL.

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