The state-owned Bangladesh Development Bank Limited (BDBL) will not sue Beximco Ltd as it has repaid the loan after a bdnews24.com report.
The BDBL on Saturday said it had decided to sue Beximco, one of Bangladesh’s largest business conglomerates, to realise defaulted loans.
The Dhaka Stock Exchange posted the news on its website.
One of Beximco’s owners, Salman F Rahman, had then told bdnews24.com there must be a ‘misunderstanding somewhere’.
“We will set the matter right tomorrow,” he said.
In a media release on Monday, Beximco said it paid back the loan in a pay order worth Tk 46.1million. “The misunderstanding is settled now.”
Salman is the private sector development affairs advisor to the ruling Awami League President Sheikh Hasina.
The BDBL’s General Manager Nazmul Bari confirmed reciving the pay order.
He told bdnews24.com the pay order cleared all dues until Sep 30.
“Now we will not take any legal action,” he said.
According to the DSE website, BDBL had loaned about Tk 180 million to erstwhile Beximco Textile Ltd, now known as Bangladesh Export Import Company Ltd (Beximco) from Oct 27, 1994 to May 30, 1995.
As on Sept 30, the amount due was around Tk 35.7 million.
The bank said the company had not taken any initiative to pay back the loan despite frequent reminders.
“Therefore, BDBL has decided to file a law-suit in Ortho Rin Adalat for the recovery of its loan.”
The bank also had said it would publish an auction notice in national dailies calling for the sale of the company’s assets in Gazipur, the first step to filing a suit.
Source: Bd news24