The New Nation - Internet Edition

Court Correspondent

Jatiya Party Chairman HM Ershad and 5 others were yesterday acqitted in a graft case filed in connection with write off of interest on loan of Shilpa Bank Limited.

Other acquitted accuseds are: former Chairman of Shilpa Bank A K M Mosharraf Hossain, Managing Director of Three Star Poultry Farm Zahangir Kabir, his wife Nurunnahar Shelly, Director of the poultry farm Borhanuddin and Feroz Kabir.

Golam Mortuza Mozumder, Divisional Special Judge of Dhaka pronounced the verdict in his crowded court room. Nurunnahar and her husband were fugitives during the trial.

The accused allegedly managed write off of interest amounting to Taka 22 lakh on a loan sanctioned by Shilpa Bank Limited.

Deputy Inspector of the former Bureau of Anti-Corruption Golam Mortuza filed the case on April 24, 1991 and submitted the charge sheet against the accused on November 6 1991. Of the 12 winesstes the deposition of 8 were recorded during the trial.

Brief prosecution story says, on September 4, 1979 Zahangir Kabir, MD of the Poultry Farm, received a loan of Taka 20 lakh 39,327 from Shilpa Bank and in 1988 the loan stood at 54,86,801 with interest Wife of the MD Nurunnahar Shelley applied to then President Ershad for write off of the loan and interest. As recommended by him the chairman Shilpa Bank at that time wrote of Taka 35 lakh. In his order he mentioned, the President himself proposed the write off of the loan.

The Judge has observed, in the 144th meeting of the Board of the Bank such write off was granted in 42 cases but case was filed only against M/s Three Star Poultry Farm.

Special Public Prosecutor Advocate Golam Md Nurul Islam conducted the case on behalf of the prosecution while Advocate Shaikh Sirajul Islam moved the case on behalf of HM Ershad.