Financial Institution | Case Reference

সতর্কীকরণ! কেস রেফারেন্স ওয়েবসাইটে প্রকাশিত অধিকাংশ নজীর বিভিন্ন বই ও ওয়েবসাইট থেকে সংগ্রহ করা হয়েছে। এই সকল নজীর এর সঠিকতার বিষয়ে কেস রেফারেন্স ওয়েবসাইট কোন নিশ্চয়তা প্রদান করে না। কেস রেফারেন্স ওয়েবসাইটে প্রকাশিত নজীর এর উপর নির্ভর এর আগে সংশ্লিষ্ট নজীরটির রেফারেন্স মিলিয়ে নেওয়ার অনুরোধ করা হচ্ছে।

Financial Institution-Held: As it appears that the High Court Division discharged the Rule holding that section 2(ka) of Artha Rin Adalat Ain (Act IV of 1990) definces "Financial Institution" as a financial institution licensed under the Financial Institution Act, 1993 and the preamble of Act XII of 1997 clearly states the reason for reconstitution of the erstwhile Bangladesh Commerce and Investment Limited as it, being a non-banking financial institution licensed by the Bangladesh Bank, functioned to the detriment of the interest of the depositors and customers and so the erstwhile Bangladesh Commerce and Investment Limited was a licensed financial institution within the meaning of section 2(ka) of Artha Rin Adalat Ain; besides under section 13 of the above Act 12 of 1997 all assets and liabilities of erstwhile Bangladesh Commerce and Investment Limited vested in the newly constituted respondent No. I and the newly constituted respondent No. 1, being a financial institution within the meaning of Artha Rin Adalat Ain, the Adalat committed no error in taking the view that Bangladesh Commerce Bank Limited was re-constituted by Act XII of 1997 as a commercial bank and the defendants having taken loan from its predecessor i.c. Bangladesh Commerce and Investment Bank the suit as filed before the Adalat was maintainable. Mr. Justice Md. Tafazzul Islam Messers Hai Iron Re-Rolling Mills Limited represented by its Managing Director and another, 10 BSCD-2007-Page-6 , 4 Law Guardian (AD) 66

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