The High Court said the Anti-Corruption Commission (ACC) has failed as a statutory body to abide by its orders and observations over the BASIC Bank loan scam, which is equivalent to defiance.
"ACC's behaviour over the BASIC Bank loan scam has raised serious questions about its neutrality, transparency, and cordiality," the court said.
The High Court bench comprising of Justices M Enayetur Rahim and Shahidul Karim made the comment in an order granting bail to Fazlus Sobhan – former deputy managing director of BASIC Bank – over the scam.
The two judges signed the text of the verdict, which was delivered on Monday, May 31.
In its observations, the HC said there has been no visible progress in the investigation into the BASIC Bank scam, although it ordered that the bank's former chairman, MD, and members of board of directors be brought to justice, with the investigation ending within 60 days and a neutral probe into the matter being ensured.
The court said all incriminated BASIC Bank officials had a role in embezzling the enormous amount of money, and there is primary cause for filing cases against them.
Moreover, the HC ordered the ACC to bring those involved in turning the profitable bank into a loss-making one to book.
The ACC filed 56 cases with three police stations in the capital, accusing more than 100 individuals including 26 bank officials in September 2015, while the commission filed another five cases last year.
On July 14, 2014, the central bank sent a report to the ACC about the details of embezzlement and found the bank's former chairman Sheikh Abdul Hye Bacchu's illegal influence in the activities of the bank.
According to an inquiry by Bangladesh Bank, about Tk450 crore was swindled out of the bank during the six years Bachchu served as its chairman.
Bacchu resigned on July 4, 2014, after the Finance Ministry sent a letter to Bangladesh Bank to dissolve the then existing committee of the bank on May 29, 2014.