Dandy Dying faces bank loan default case

A Dhaka court on Wednesday set June 25 whether it would indict the 11 directors of Dandy Dyeing Limited, including BNP senior vice-chairman Tarique Rahman and his younger brother Arafat Rahman Koko, for misappropriating a loan of Tk 45.49 crore from Sonali Bank.

The other accused are Shams Iskander, Shafin Iskander, Sumaiya Iskander, Nasrin Ahmed, Gias Uddin Al Mamun and his wife Shahina Begum, Gazi Galib Abdus Sattar, Shamsun Nahar and Masud Hassan.

Judge M Rabiuzzaman of the Dhaka Money Loan Court-1 fixed the date after concluding the hearing from both sides on the issue.

Sonali Bank senior executive officer Nazrul Islam filed the case with the Money Loan court on October 2, 2012 for defaulting loan of Tk 45.59 crore.

According to the case, Dandy Dyeing Limited Company started its operation with a capital of Tk 3 crore during the BNP rule in 1992. The following year it took bank loan of Tk 13.14 crore. Later, in 1996, Sonali Bank further sanctioned loan accumulating to Tk 42.70 crore. Meanwhile, in 2001, the Sonali Bank authorities had written off the interest amount equivalent to Tk 12.16 crore.