Banking Companies Act, 1991



Section—10g/ill with Article—56 of P.O. 127 of 1972, Clause-4 of the Non-Banking Financial Order, 1989

The company advanced a huge to the accused petitioner with 19 other directors of the Bangladesh Commerce and Investment Ltd. (BCI Ltd.) and their relations in violation of the laws. Warrant of arrest being issued, the petitioner was arrested on 1.8.92. He was granted an ad interim bail on 22.2.93 on condition of his depositing the entire loan money & filing certificate from the Bangladesh Bank. On the expiry of extended period on 29.6.93. the accused petitioner, having not surrendered in the Court of M. M. is a fugitive from law and justice and he is not entitled to bail. Surrender in the Court of C. M. during the pendency of the bail. This will not prejudge what view the other courts will take in respect of future bail application filed by him. [Paras-4 & 5]

Md. SaiduL Islam Chowdhury Vs. The State & others 3 BLT (AD)-144






Bank, whether is not entitled to publish the statement regarding the position
of dues of an account—holder as on 31 St December, 1990, which is the last day
of 2nd half of the year, 1990.

argument that since the Banking Companies Act, 1991, came into force on 24th
February, 1991, the Bangladesh Bank is not entitled to publish the statement
regarding the position of outstanding dues of an account—holder as on 31st
December, 1990, has no substance, as section 37, without putting any time
limit, has clearly empowered the Bangladesh Bank to publish any such
information obtained by it in a consolidated form in the public interest.

M/s. Paul
and Co. Narayanganj Vs. Bangladesh Bank, represented by its Governor and
others; 11 BLD (HCD) 484.