HC summons 280 persons of People’s Leasing...

Dhaka, Tuesday   02 March 2021

HC summons 280 persons of People’s Leasing

 Staff Correspondent daily-bangladesh.com

 Published: 06:13 PM, 21 January 2021   Updated: 08:57 PM, 21 January 2021

File Photo

File Photo

The High Court on Thursday summoned 280 people involved with the People’s Leasing and Financial Services (PLFS) Limited. 

Earlier on Tuesday, the High Court summoned PLFS's former board chairman and retired captain M Moazzam Hossain and his two family members to explain their positions on the allegation that they had transferred PLFS’s shares to their personal accounts.  

People's Leasing and Financial Services Limited, a non-bank financial institution, spent more than Tk6.25 crore on shares in the Initial Public Offering (IPO) of SS Steel Limited in 2015. 

31.30 lakh shares with a face value of Tk10 were transferred in favour of People's Leasing after the IPO approval of SS Steel Limited in 2018. M Moazzem Hossain, the erstwhile chairman of People's Leasing, transferred the remaining 31.25 lakh shares in favour of his Beneficiary Owners (BO) account, without transferring them to PLFS' account.