Dhaka – Bangladesh Development Bank Limited (BDBL) has decided to file a case with Ortho Rin Adalat (ORA) against Beximco for its failure to repay loan to the bank.
As per a report posted on the Dhaka Stock Exchange (DSE) website, BDBL (Erstwhile Bangladesh Shilpa Bank) informed the bourse that it gave loan of Tk 18 crore to erstwhile Beximco Textile Ltd, then Bextex Ltd, now Bangladesh Export Import Company Ltd (Beximco) from October 1994 to May 1995.
As of September, 30 2013, the overdue amount was around Tk 3.57 crore. Despite frequent requests by BDBL, Beximco did not take any initiative for repaying the loan.
BDBL, therefore, has decided to file a lawsuit with Ortho Rin Adalat for the recovery of its loan. An auction notice of advertisement regarding the sale of assets of Beximco situated at Gazipur under Rule 12 of Ortho Rin Adalat Act, 2003 will be published in national dailies by BDBL as a primary condition to file a suit.
The ORA is a special court set up in the country to deal with default loan. – UNB
