In 1983, Adarsh Engineering Workshop in Savar secured around Tk4 lakh from the local branch of Agrani Bank. Due to non-payment, the loan, including the interest, increased to a staggering Tk11 lakh in 1990.
In July 2001, a bankruptcy court declared Md Shahjahan, proprietor of the business, bankrupt and mandated the liquidation of his assets to recover the outstanding loan.
In the following month, the High Court stayed the judgement, temporarily halting any further legal actions or enforcement related to the case.
Keep updated, follow The Business Standard’s Google news channelThe bank’s lawyer SA Rahim told The Business Standard that the Appellate Division had upheld the High Court’s order. As of now, the appeal remains pending w…
Read the full article at: https://www.tbsnews.net/economy/banking/banks-nbfis-struggle-recover-loans-bankruptcy-cases-linger-750618