Mustafa Zamil Ahmed Vs. Governor of Bangladesh Bank and others

Mustafa Zamil Ahmed (Petitioner)

Vs.

Governor of Bangladesh Bank and others (Respondents)

Supreme Court

Appellate Division

(Civil)

Present:

Latifur Rahman CJ                                                              

Bimalendu Bikash Roy Choudhury J                                                           

AMM Rahman J                                                                                

Mahmudul Amin Choudhury J                                                          

Judgment

February 14, 2000.

The Foreign Exchange Regulation Act, 1947 (V of 1947), Section 3

The principal has always a right to take action against his agent for misdemeanour, especially when it is of criminal nature……………………(7)

Lawyers Involved:

ABM Nurul Islam, Senior Advocate, instructed by Mvi Md Wahidullah, Advocate-on-Record- For the Petitioner.

Dr. Abul Kashem Mohammad Ali, Advocate (appeared with the leave of the court) instructed by Sufia Khatoon, Advocate-on-Record — For Respondent No. 3.

Not represented — Respondent No. 4.

Civil Petition for Leave to Appeal No. 915 of 1999.

(From the Judgment and order dated 12th July 1999 passed by the High Court Division in Writ Petition No. 1776 of 1998).

Judgment

                Bimalendu Bikash Roy Choudhury J.- The petitioner proprietor of Jeni Money Exchange Company was a licensee as money changer under section 3 of the Foreign Exchange Regulation Act from the Bangladesh Bank initially for a period of 1 year with provision for renewal.

2. Upon an allegation made by the Assistant Manager, Security, Bangladesh Biman that valuable Bank securities were stolen from the strong room of the cargo godown of theirs, the Cantonment police arrested 6 persons including the petitioner and recovered travellers cheque valued US dollars 5,93,000.00 equivalent to Taka 2,73,49,100.00 from their possession on the basis of confessional statement.

3. Pursuant to this case Bangladesh Bank asked the petitioner to showcause why his money changer licence should not be cancelled and also suspended the said licence pending enquiry by two orders of the same date.

4. Being aggrieved thereby the petitioner preferred Writ Petition No.1776 of 1998 before a Writ Bench of the High Court Division which, by its judgment and order dated 12 July 1999, discharged the Rule Nisi issued thereon.

5. The petitioner now seeks leave to appeal before us.

6. It has been argued that the criminal case started against the petitioner and others has been pending for long and the petitioner is suffering huge financial loss on account of rent for the premises, salary of staff, etc. on account of the order of suspension. Furthermore, he argues that Bangladesh Bank, the principal, had no right to suspend the licence of its agent lawfully appointed.

7. We find no substance in the submissions. The principal has always a right to take action against his agent for misdemeanour, especially when it is of criminal nature.

The petition is dismissed.

Ed.

Source: 53 DLR (AD) (2001) 66

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