Returning Tk 1,200 crore realised from 17 firms
SC to deliver verdict on BB appeals today
STAFF REPORTER
The Appellate Division of the Supreme Court (SC) yesterday fixed March 16 (today) for delivering its verdict on separate appeals filed by the Bangladesh Bank authorities. The appeals were filed against several High Court (HC) orders that directed the government to return about Tk. 1,200 crore realised from 17 companies during the tenure of the Army-backed caretaker government.
A four-member bench of the Appellate Division, headed by Chief Justice Surendra Kumar Sinha, fixed the date after concluding hearings on the appeals.
During yesterdays hearing, Advocate Ahsanul Karim, counsel for the businessmen, told the court that members of the Directorate General of Forces Intelligence (DGFI) collected the money from the businessmen forcibly, which was illegal.
He said DGFI members had collected the money in the name of income tax and VAT. But there is no provision to deposit the money collected forcibly to the NBR authorities, he added.
He also said that the NBR authorities did not demand the money from these businessmen as they pay income tax regularly and have no arrears.
Besides, the DGFI had also told the authorities concerned to take action against officials involved in collecting the money from the businessmen.
After hearing both sides, the apex court fixed the date for delivering its order.
Later, Ahsanul Karim told The Independent that 12 companies filed 17 writ petitions at separate times.
In response to the petitions, the HC had also from August 24, 2010 till 2015 on separate dates asked the government to return about Tk. 1,200 crore to the companies, as the amount was collected from these companies illegally.
The DGFI had collected Tk. 237 from Catheli Dated Tea and Land Bangladesh Limited, Tk. 235 crore from the Basundhara Group, Tk. 300 crore from the Unique Group and Tk. 250 crore from the S Alam Group by threatening their officials during the caretaker governments tenure in 2007. The other amounts were also collected from several other companies, including the Eastern Housing Company, according to the case document.
On December 22, 2009, the Bangladesh Bank sent to the finance ministry a list of 16 firms and individuals who had deposited illegally earned Tk. 1,232 crore in the Fakhruddin Ahmed-led caretaker governments exchequer.
The names of a few of these 16 institutions and persons appeared several times in the media as they deposited money on different dates.
The companies included the Bashundhara Group and its sister concern East West Property Development, which deposited Tk. 256 crore in five instalments. James Finlay deposited Tk. 238 crore in two instalments.
AB Bank deposited Tk. 190.41 crore and the AB Bank Foundation gave Tk. 32.13 crore. Swadesh Properties deposited Tk. 9 crore, the Hosaf Group Tk. 15 crore, Eastern Housing (Islam Group) Tk. 35 crore, the Partex Group Tk. 15 crore and Elite Paints Tk. 25.44 croreall in two instalments.
A sum of Tk. 8 crore was realised from Concord Engineering and Construction, Tk. 7 crore from Concord Real Estate and Building Products, Tk. 1 crore from Asian City, Tk. 6.41 crore from Pink City, Tk. 19.45 crore from the Bangladesh Ship Breakers Association, Tk. 1.30 crore from the Amin Mohammad Group, Tk. 23.80 crorefrom the MGH Group, Tk. 32.50 crore from the Amin Mohammad Foundation, Tk. 39 crore from the National Bank and Tk. 2.50 crore from Sagufta Housing.
Earlier, the Bangladesh Bank and the National Board of Revenue (NBR) suggested to the government that a decision should be taken on the Tk. 1,200 crore realised by the Army-backed caretaker government during its anti-graft drives, as both the bodies had no authority to determine the legality of the money to use it. During the drive in 2007 and 2008, the joint task forces realised the money from different businessmen and politicians through fines. It was deposited in the Bangladesh Bank.
Finance minister AMA Muhith told Parliament in 2010 that the funds confiscated during the emergency regime was almost Tk. 12.32 billion, which is with the state exchequer.
