RE: LEGAL OPINION ABOUT IRREGULAR LONE
Please refer to your letter no……………….. dated 17.05.07 on the above subject matter.
From perusal of your letter and the papers enclosed herewith it is apparent that Mr.x was a former officer of the Bank 1 before he joined the Bank 2on 30.11.07. At the time of his release order dated 29.11.05 he acted as the Sr.Vice President & Manager of its Sylhet Branch and during his charge over the said Branch he disbursed allegedly Tk-10.00 crore as CFS loan which the Bank 1 to be a irregular loan vide their letter dated 06.05.07 and urging for transferring the service of Mr.x to the Bank 1for realization of the alleged irregular CFS loan sanctioned by him.
In this circumstances, you require our legal opinion as to whether the Bank 2can transfer the
Service of Mr.X to the Bank 1.
Mr.x joined the Bank 2on 30.11.2005 having got the release order dated 29.11.2005 form the Bank 1. It is evident from the papers provided by you that during his tenure of the service in the Bank 1 the total outstanding CFS loan is estimated Tk-4,03,10,642.00 till 30.11.07. It is pertinent to be mentioned that CFS are supervisory loans therefore regular monitoring and follow up is required for recovery of the said loan. At the time of obtaining the release order, Mr. x, left total outstanding loan Tk-7.00 crore (approx) and by this time Tk-3.00 crore (approx) has been recovered. In view of the matter it cannot be said that the loan is a bad loan or otherwise. Therefore the allegation raised by the Bank 1 that the loan become classified due to fault of Mr.x is absurd and ridiculous. Mr.x is now your permanent employee. It is not lawful to you, to transfer the service of your employee to another bank for any reason whatsoever. Your duty is to give protection of your employee from the disturbance of outer world.
If you have any query, please do not hesitate to contact us.
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