Sunday, 5 December, 2021

Assessing Evaly Debts

HC forms 5-man board headed by Justice Manik

  • Staff Correspondent
  • 19 October, 2021 12:00 AM
  • Print news

The High Court has formed a five-member board to assess debts of the embattled e-commerce company Evaly, whose high-ups have recently been put behind bars for embezzling huge money from their customers.

Former Supreme Court Justice Shamsuddin Chowdhury Manik has been   made chairman of the board. Four members of the board are former secretary Mohammad Rezaul Ahsan, former secretary Mahbubul Karim, Chartered Accountant Fakhruddin Ahmed and Supreme Court lawyer Barrister Khan Mohammad Shameem Aziz. A single bench comprising Justice Muhammad Khurshid Alam formed the regulating body of the e-commerce company following a writ petition on Monday.

On October 13, the Ministry of Commerce submitted names of three former secretaries to the High Court for formation of a board to assess liabilities of Evaly.

The ministry submitted the names, a day after the apex court decided to form a four-member board of Evaly.

On October 11, the Registrar of the Joint Stock Companies and Firms (RJSC) placed relevant documents of Evaly to the HC following a directive.

The High Court on September 30 sought all papers of Evaly Ltd to examine whether a board of directors can be formed to assess liabilities and run it properly.

Farhad Hossen, an aggrieved customer, filed a writ petition seeking necessary directives to wind up the company and refund the money of the people who made advances to Evaly but did not get delivery of expected products.

Police arrested Evaly Chairman Shamima Nasrin and Chief Executive Officer (CEO) Mohammad Russel from their residence on September 16 in a case filed for embezzling money.

A Dhaka court on July 17 issued a ban on overseas travel of the couple following a petition by the Anti-Corruption Commission.

The ACC launched a probe into the allegations of Evaly’s embezzlement of money from its customers.

Bangladesh Financial Intelligence Unit (BFIU) of Bangladesh Bank directed the banks concerned on August 27 last year to freeze accounts of Evaly CEO Rassel and Chairman Nasrin.