Published : 30 Jul 2026, 08:40 AM
Updated : 08 Sep 2026, 09:28 AM
GPH Ispat Ltd has been fined Tk 50 million for concealing pending Appellate Division proceedings and previous court orders while filing a fresh appeal concerning its inclusion as a loan defaulter in Bangladesh Bank's Credit Information Bureau (CIB) list.
A High Court bench directed the company to deposit the fine with the Supreme Court registrar within one month, directing it to spend the money on medical treatment for those injured during the July Uprising in consultation with the chief justice.
On Wednesday, the bench comprising Justice Md Nazrul Islam Talukder and Justice Mahmud Hssan issued the order while dismissing the steel manufacturer's appeal on the matter.
Attorney General Ruhul Quddus Kazal represented the state.
Following the ruling, he told bdnews24.com that the court imposed the fine as the company filed a new petition before a High Court bench while hiding information over a similar petition with the Appellate Division and subsequent orders by another High Court bench.
Elaborating on the details, Kazal said GPH Ispat had previously filed a petition in the High Court seeking a directive to exclude its name from the central bank's CIB report as a defaulter.
Although the High Court initially issued a rule and a stay order, the chamber judge of the Appellate Division stayed that order on Jul 9 following an appeal by the state.
As a result, the High Court’s order preventing the company’s name from being published in the CIB report as a loan defaulter was no longer in effect.
According to a written “statement of fact” submitted to the court by the state, despite ongoing proceedings on the same matter in both the High Court and the Appellate Division, the company concealed those facts to file a case in a lower court first, before appealing the lower court's order in the High Court.
Attempts to reach GPH Ispat's Media Advisor Ovik Osman by phone were unsuccessful. Messages sent via WhatsApp also went unanswered.
Kazal said, "Despite proceedings being pending on the same issue, GPH Ispat filed a title suit in a lower court.
“In that suit, they sought an injunction so that they would not be listed as loan defaulters in any CIB report concerning Tk 21 billion in loans across at least 29 banks under their group.
"However, they failed to disclose anywhere that they had previously filed a case on the same matter in the High Court, obtained an order, and that the Appellate Division's Chamber Court subsequently stayed the order.
When the lower court rejected their application, they returned to the High Court seeking a similar injunction."
