The High Court on Thursday directed the Bangladesh Bank authorities to submit a list of loan defaulters exceeding debt of Tk 1 crore by June 24.
The court also asked for a report as to how much money had been laundered to different countries and what steps were taken to bring it back.Bangladesh Bank officials will face legal action if they do not comply with the order, the HC cautioned.
A division bench comprising Justice FRM Nazmul Ahasan and Justice KM Kamrul Kader passed the order after the central bank refused to disclose the information on Thursday.
Quoting Article 46 of the Bangladesh Bank Order 1972, central bank’s counsel Barrister M Moniruzzaman told the court that there is a legal restriction on the part of the bank to disclose names of the defaulters.
But writ petitioner’s lawyer Manzill Murshid argued that central bank is trying to use Article 46 as a shield to protect the loan defaulters.
As per Article 102 of the Constitution, any individual or organization is bound to comply with the order passed by the High Court, he added.
The HC cautioned the Bangladesh Bank authorities that they will face action if they do not submit a list of the loan defaulters within the stipulated time.On February 13, the High Court directed Bangladesh Bank to make a list of loan defaulters exceeding debt of Tk 1 crore and submit it to the court.
The previous day, Human Rights and Peace for Bangladesh (HRPB) filed the petition with the court, seeking its directives on the quick recovery of classified loans and check on irregularities in the sector.
The court issued a rule, asking the authorities concerned to explain why their failure to check corruption and irregularities in sanctioning loan and remission of interest on loans in the last 20 years shall not be declared illegal.