The High Court is unhappy with the performance of the court-appointed Board of Directors of the People's Leasing and Financial Services Limited (PLFSL), a non-bank financial institution.
In a recent order, the court said, "The Board of Directors (BoD) has not been able to demonstrate any significant performance in functioning the company."
The High Court (HC) bench of Justice Muhammad Khurshid Alam Sarkar observed this in an order passed after accepting the resignation of Barrister Kamal Ul Alam who was earlier appointed by the court as the chairman of the company.
After deciding to revive the PLFSL instead of winding it up, the HC on June 28, 2021, formed a new 10-member Board of Directors for the institution in where Barrister Kamal Ul Alam, a senior Supreme Court lawyer, was appointed as the chairman of the board.
The court also appointed Anwarul Islam Sikder, former secretary to government, Hasan Shaheed Ferdous, a retired senior district and sessions judge, Abdul Halim Chowdhury, former managing director of Pubali Bank Ltd, Brigadier General (retired) Kazi Taufiqul Islam, Noor-E Khoda Abdul Mobin, an FCA, as the member of the board.
The list also included the names of Moahadul Mowla, an FCA, Dr Nashid Kamal, a representative of the depositors, Dr Nurul Kabir, chairman of the finance department of the North South University and Mohammad Jalal Uddin, former managing director of Ansar VDP Unnayan Bank.
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