NN Online:
The Bangladesh Bank (BB) has informed the High Court (HC) that BEXIMCO owes Tk 50,500 crore in liabilities to 23 banks and financial institutions, including 16 banks and 7 non-bank financial institutions.
The central bank on Sunday submitted a report to a High Court bench containing this information.
“Out of 188 companies under BEXIMCO, 78 companies have taken loans but failed to repay. A list of the banks that have not received loan repayments from BEXIMCO was also submitted. This includes 16 banks and 7 financial institutions, to which BEXIMCO owes a total of Tk 50,500 crore,” said the report submitted to the High Court regarding BEXIMCO’s irregularities.
On November 12, the High Court ordered the appointment of a “receiver” to manage the companies of BEXIMCO Group. However, the Appellate Division suspended this order for BEXIMCO Pharmaceuticals Limited. Subsequently, the High Court was instructed to resolve the rule within two weeks.
On September 5, following the initial hearing of a writ petition, the High Court issued an order along with a rule. The court instructed the Bangladesh Bank to attach all properties of BEXIMCO Group and appoint a “receiver” to manage the group’s companies for six months. Subsequently, the Bangladesh Bank appointed a receiver as per the court’s directive.
