NEW IDEAL ENGINEERING WORKS LTD. Vs. BANGLADESH SHILPA BANK

JUDGEMENT

(1.) This petition is from an order dated 22 April, 1990 passed by the High Court Division, Dhaka summarily rejecting the Writ Petition No.763 of 1990, filed by the petitioner.

(2.) The petitioner in the said writ petition challenged the decision of the Bangladesh Shilpa Bank (briefly BSB), respondent No.1, dated 10.4.90 (Annexure P) for sale of the industrial concern under Article 34 of the Bangladesh Shilpa Bank Order, 1972, hereafter referred to as the Order and the notice for sale of the same (Annexure Q) published in the daily newspaper "Dainik Bangla" on 12.4.90.

(3.) Facts of the case, briefly, as in the writ petition are, that the BSB sanctioned a local currency loan of Tk. 23,00,000/- to the petitioner for setting up a light engineering workshop at the BSCIC Industrial Estate, Tongi, Dhaka vide memo No.06/4226/4576 dated 3.6.80. Out of the said amount the BSB disbursed a total of Tk. 17,00,000/- to the petitioner on different dates in three phases including part of 1st instalment on 17.10.80. It was stipulated in the sanction letter that the entire amount of the loan would be repaid in 21 half-yearly instalments of which 20 instalments are to be of Tk. 1,10,000/-each and the last instalment to cover the entire balance due and that the repayment of loan money would commence from 30.9.82. The petitioner paid the first and second instalments on 27.8.82 and 31.3.83 and by June 1984 in all paid Tk. 17,75,000/-. The Bank by its letter dated 26.7.86 issued notice for recovery of dues under Article 35(1) of the Order claiming Tk. 20,92,787/- as on 30.6.86 and started a certificate case being CC No. 28-BSB/86 for realisation of Tk. 21,11,411/- under the Public Demands Recovery Act, 1913. The petitioner filed Title suit No. 5 of 1987 challenging the certificate case and the order cancelling the loan agreement which, however, ended in a compromise and the suit was dismissed for non-prosecution on 13.12.87. The petitioner paid a sum of Tk. 6,50,000/- and the Bank by its letter dated 28.5.88 re-scheduled the outstanding dues for repayment by 31.12.89.