Court orders HRC Group chairman's removal as One Bank director over loan default case
There are two loan default cases against Sayeed, including one filed by Southeast Bank Limited, making him ineligible for the post, lawyer says
A Chattogram court has ordered the removal of HRC Group Chairman Sayeed Hossain Chowdhury from the position of One Bank's director over a loan default case.
Judge Mujahid Ur Rahman of Chattoram Money Loan Court gave the order today (2 September), the court's bench assistant Rezaul Karim told The Business Standard.
He said there are two loan default cases against Sayeed, including one filed by Southeast Bank Limited, making him ineligible for the post.
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As per banking policies, no loan defaulter can be on the board of directors of the bank, stated Rezaul.
Earlier in 2020, the Bangladesh Bank removed Sayeed from the post of One Bank chairman for the same reasons.
Later, he approached the High Court, which then issued a ruling suspending the central bank's directive, and he returned to his position.
According to court sources, Southeast Bank filed a case against Sayeed and his wife Farzana Chowdhury over defaulting on a loan in the name of his company HRC Syndicate Limited.
According to the case statement, as of 31 August, the institution owes Tk15 crore, including interest, to the bank.
On the other hand, Standard Bank Limited filed another case against the couple due to non-payment of loans in the name of HRC Shipping Limited. The bank's liability to the company is now Tk171 crore.
