Top court to deliver verdict on funds 'confiscated' during caretaker regime on Thursday
Staff Correspondent, bdnews24.com
Published: 2017-03-15 14:00:40.0 BdST Updated: 2017-03-15 14:37:49.0 BdST
The Supreme Court has fixed Thursday to give its decision on the amounts 'confiscated' from businesses during the army-backed caretaker administration.
The four-member appeals bench led by Chief Justice Surendra Kumar Sinha kept its verdict pending after finishing the hearings on Wednesday.
On Jan 11, 2007, the military-installed interim government led by Fakhruddin Ahmed took office by ousting the then President Iajuddin Ahmed-led administration.
During the two-year emergency regime, many businessmen and politicians were arrested in a crackdown against 'corruption.'
Between April 2007 and November 2008, a huge amount of money was confiscated from almost 40 businessmen and organisations, which has been kept with the Bangladesh Bank.
Finance Minister AMA Muhith told the Parliament in 2010 that the funds confiscated during the emergency regime was almost Tk 12.32 billion, which is with the state exchequer.
Two companies -- Kafeli Dated Tea & Land Limited and S Alam Steels Ltd, moved the High Court over Tk 2.37 billion and Tk 600 million taken from them in 2007 and 2008.
On Aug 24, 2010, the court ruled in their favour and ordered the government to return the money within three months, because it was obtained illegally.
Bangladesh Bank moved the Appellate Division against the verdict, when the court stayed it.
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