LEGAL OPINION ON FILING OF CRIMINAL CASE AGAINST Mr. X, EX-SVP AND MR. Y, EX-PO OF KHULNA BRANCH KHULNA.

Mr. Z

Address….

Dear Sir,

RE:     LEGAL OPINION ON FILING OF CRIMINAL CASE AGAINST Mr. X, EX-SVP AND MR. Y, EX-PO OF KHULNA BRANCH KHULNA.

We refer to your letter dated 27.11.2006 on the above subject matter. We have perused papers/documents (photocopy) referred to us.

It appears that Mr. x, the then Senior Vice President of Khulna Branch and Mr. y, the then Principal Officer and In-Charge of Foreign Exchange Department of the Branch have been dismissed from the service of the Bank from September 21, 2006 and October 16, 2006 respectively due to their gross irregularities, negligence and misconduct in which the Bank has incurred a huge financial loss of around Tk. 500.00 lac. In this circumstances the matter has referred to us and we are requested to provide legal opinion regarding merits of initiation of Criminal/Civil Case against the said delinquent Executives and whether initiation of any legal action against them may jeopardize the legal action that may be taken/already taken against the respective Borrower(s) for recovery of Bank’s dues.

OUR OPINION:

Being an officer or employee of a Banking Company, Mr. x and Mr. y, by their negligent conduct in dealing with a banking transaction allows a huge amount of loan in favour of the Borrower(s) and as a result the Bank has incurred a huge financial loss that can constitute an offence under section 462A of the Penal Code, 1860. In such situation we are of the view that Bank may file a FIR (Ezahar) in the concerned Police Station against them to that effect. However, Bank may file a Civil Case against the said executives for claiming compensation since their negligent conduct has caused a huge loss to the Bank. Please note that initiation of any legal action against the said executives may not jeopardize the legal action that also may be taken/already taken against the respective Borrower(s) for recovery of Bank’s dues by filing Artha Rin Suit. We are sending herewith all papers/documents (photocopy).

Should you have any further query, please revert back to us.

Thanking you.

Yours faithfully,

………………….

For: “The Lawyers & Jurists”

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