Loan Default CaseCourt orders Sayeed’s removal from director post of One Bank

Chattogram court on Monday ordered to remove Sayeed Hossain Chowdhury from the position of director at One Bank PLC in connection with a loan default case.

Artha Rin Adalat Chattogram Judge Mujahidur Rahman passed the order against Sayeed who is also the chairman and CEO of the HRC Syndicate Limited.

The court’s bench assistant, Rezaul Karim, said Sayeed and his wife Farzana Chowdhury have a defaulted loan of Tk183 crore at two branches of the Southeast Bank PLC and Standard Bank PLC.

Earlier, Southeast Bank submitted a petition to the court seeking its order to seize the shares of Sayeed in One Bank.

“According to the Bank Company Act, Sayeed cannot be a director of a bank as is a loan defaulter. So, the court ordered the Bangladesh Bank governor to remove him from the directorship of One Bank,” said Rezaul.

The court also fixed 18 September for holding the next hearing in the case, he added.