BANGLADESH BANK Vs. DEBENDRA NATH DUTTA

JUDGEMENT

(1.) This appeal arises from the judgment and order of a Bench of the High Court Division passed in Appeal No. 1 of 1974 on August 5, 1976 reversing those of the Company Judge passed in Matter No. 4 of 1969 on March 22, 1973.

(2.) The appellant filed an application under section 66/1) of the Banking Companies Ordinance, 1962 (hereinafter referred to as the 'Ordinance') for the public examination of the respondent who was the former Secretary of Patuakhali Bank Limited (in liquidation), before the erstwhile High Court of East Pakistan. The allegations against him were as follows:

(3.) After the emergence of Bangladesh, a Single Judge of the High Court Division who heard the application found that due to the willful negligence and misconduct of the respondent in dealing with the affairs of the Bank, it sustained loss for which he was solely responsible. It was, therefore held that the respondent was not a fit person to be a director of a company. Under section 66(9) of the Ordinance, 1962, it was ordered that "he shall not, without the leave of the court, be a Director of, or in any way, whether directly or indirectly, be concerned or take part in the management of any company for five years from the date of the judgment, that is, March 22, 1973.