• Monday, Nov 29, 2021
  • Last Update : 02:19 am

High Court appoints Mahbub Kabir as new Evaly MD

  • Published at 06:05 pm October 18th, 2021
Mahbub Kabir, the former additional secretary of Railways Ministry
Mahbub Kabir, the former additional secretary of Railways Ministry Collected

The platform will function as any other company and control of all assets will be given to the new board

Mahbub Kabir, the former additional secretary of Railways Ministry has been made the new managing director (MD) of the controversial e-commerce platform Evaly. 

The High Court assigned the role to the officer as part of special duty on Monday. It also formed a four-member board for Evaly led by former Appellate Division Judge AHM Shamsuddin Chowdhury Manik.

The other board members are, former LGRD Secretary Mohammad Rezaul Ahsan, Chartered Accountant Fakhruddin Ahmmed and Supreme Court Lawyer Barrister Khan Mohammad Shameem Aziz.

The High Court bench of Justice Muhammad Khurshid Alam Sarkar passed the order, who also said that the appointment was decided after Milon impressed them with his dedication and intent to turn things around.

The order was given in response to the appeal made by Md Farhad Hossen, a consumer who sought court directives against refunds owed by Evaly on September 22, asking it to distribute cash funds amongst victims by dissolving the platform.

Following the court order, Barrister Sayed Mahsib Hossain told the media that the new board will soon hold a meeting and take charge of the platform and all its documents and transaction records. 

“The platform will function as any other company and control of all assets will be given to the new board,” he said. Sayed Mahsib was at the hearing.

Earlier on September 30, the court put a moratorium on the sale or transfer of all movable and immovable assets of Evaly and sought the platform’s documents from the Registrar of Joint Stock Companies And Firms (RJSC). 

Meanwhile, the platform closed both its website and app on Saturday, citing the temporary shutdown of its banking operations due to operational expenditure through its official Facebook page just before the investigation was proceeding with the formation of the new board.

The Dhanmondi office of Evaly was also closed earlier following the arrest of its top officials.

On October 13, the Commerce Ministry forwarded the names of three former secretaries to the High Court for constituting the board.

Evaly's own estimates put its assets at Tk121 crore, yet it owes consumers and merchants more than Tk1,000 crore.

The company accepted money in advance payments, tempting customers with huge discounts on its website and promises of delivery within 7-45 days. But the delivery deadline passed without ever receiving their products of a payback. 

Customers were given reimbursement checks in certain circumstances after Evaly failed to deliver, but the checks bounced in several cases due to inadequate cash in Evaly's bank account.

Several charges of embezzlement and check fraud have been filed against Evaly CEO Mohammad Rassel and his wife Shamima Nasrin, the company's chairman. The couple was arrested on September 16.

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