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The High Court has issued directives to arrest Prasanta Kumar (PK) Halder immediately upon his return to the country and to send him to jail.

The single-member bench of justice Muhammad Khurshid Alam Sarkar issued this order on Wednesday at the hearing of appeal made by the financial institution International Leasing and Financial Services Limited (ILFSL).

PK Haldar had resorted to fraud in taking loans of around Tk 25 billion (Tk 2,500 crore) in his own name and in other names from International Leasing. As a result, ILFSL is unable to repay the deposits made by its clients. When the matter came to light, PK Haldar fled from the country.

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International Leasing and a few other financial institutions are in dire straits because of PK Haldar. These institutions are more or less bankrupt.

Several clients of International leasing approached the court in this regard. The High Court then appointed former deputy governor of Bangladesh Bank, Khondokar Ibrahim Khaled as chairman of the ILFSL.

Taking over the chairman, Khondokar Ibrahim Khaled saw that the PK Haldar had left the institution in such a bad state that recovery was impossible. He resigned from the post.

In March this year the High court appointed former secretary Nazrul Islam in his stead. International Leasing then established contact with PK Haldar. PK Haldar, at one stage, admitted his responsibility in the financial scam and expressed his interest in returning to the country and repaying the dues. He submitted an appeal in this regard.

International Leasing then took initiative to bring him back home under court supervision. The institution on 6 September submitted an appeal to the court asking permission to bring PK Haldar back to the country.

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