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Thursday, June 30, 2022

Five-member board formed to asses Evaly’s liabilities

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The High Court on Monday formed a 5-member board to manage, control and assess the liabilities of e-commerce platform Evaly.

Former justice Shamsuddin Chowdhury Manik will lead the board, reports UNB.

Other members of the board are former secretaries Mohammad Rezaul Ahsan and Mahbubul Karim, chartered accountant Fakhruddin Ahmed and lawyer Barrister Khan Mohammad Shamim Aziz.

The single company HC bench of Justice Muhammad Khurshid Alam Sarkar passed the interim order following a petition seeking liquidation of the company.

Syed Mahsib Hossain, counsel of the petitioner, said the High Court has constituted a 4-member board for Evaly’s management.

The board has been asked to submit a report on the company on the next due date.

Earlier on October 12, Justice Muhammad Khurshid Alam suggested the formation of an interim board to manage the controversial e-commerce platform.

A plea was filed by a disgruntled customer named Md Farhad Hossen seeking court directives for dissolution of Evaly. He demanded a refund from the liquidation of Evaly’s property.

It also sought formation of a board of directors to control and manage Evaly. Following a preliminary hearing on the application, the HC on September 22 banned the sale and transfer of immovable and movable property of Evaly. At the same time, the court wanted to know why the company would not beOn September 30, the court directed the Registrar for Joint Stock Companies and Firms to submit all the documents of Evaly to the court by October 11, which they did.

“This documents ahve been submitted to the court. However, they have not been examined yet.The board has been formed for this purpose,” lawyer Syed Mahsib Hossain said.

A handful of cases have been filed against Evaly CEO Mohammad Rassel, and his wife Shamima Nasrin who is the chairman of the company, on allegations of embezzlement and cheque fraud.

The couple was arrested on September 16.

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