Dhaka Bureau: Bank or financial institution cannot file check dishonor case against any person for debt recovery. At the same time, all check dishonor cases filed by banks or financial institutions currently pending in judicial courts will be stopped. However, for recovery of debt, a case can be filed in the Court of Debt only under the Debt Act of 2003.
On Wednesday (November 23), Justice Md. canceled the check dishonor case of BRAC Bank against a person in debt recovery. A single High Court bench of Ashraful Kamal gave the verdict.
In the verdict, the court said that the check being taken against the bank loan is a security. Not a negotiable instrument. A check dishonor case cannot be filed against the check held as collateral.
A loan from a bank or financial institution is taken through an agreement. Taking a blank check against a loan is illegal. Banks and financial institutions have been doing this illegal thing for a long time. Their behavior is like that of moneylenders.
The High Court said in the judgment giving instructions to the lower court, if any bank or financial institution files a check dishonor case from today, then the court will directly dismiss it. At the same time send them to the debt court for debt collection.
The court also said that banks were supposed to be friends of the poor, but instead of that, banks and various financial institutions are sucking the blood of the poor. It can’t be. I have heard about banks waiving the loans of those who are defaulting on loans of thousands of crores of rupees, but I have never heard of waiving off the loans of any poor person.
Referring to the bank’s aim to collect debts like sapphire farmers and dadan traders, the court said that banks and financial institutions are filing check dishonor cases without filing cases under the Money Lending Act to collect loans. Due to this our criminal system has become almost ineffective. Therefore, from now on, banks or financial institutions can file cases only in the credit court. Not in any other law.
