• Monday, Dec 06, 2021
  • Last Update : 01:15 am

High Court forms four-member interim board for Evaly

  • Published at 01:34 pm October 18th, 2021

Former top court judge Justice Shamsuddin Chowdhury will lead the board

The High Court has formed a four-member interim board on Monday to assess the liabilities of scam-tainted online marketplace Evaly.

Former top court judge Justice Shamsuddin Chowdhury will lead the board, say media reports.

A former judge, a chartered accountant, a secretary, and a lawyer are supposed to be on the board. The names of the other board members, however, were not available immediately.

Md Farhad Hossen, a disappointed client, filed a petition seeking the court’s order to close down Evaly and claimed a return by liquidation of assets.

On September 30, the High Court ordered the registrar of Joint Stock Companies and Firms (RJSC) to submit all documents of the e-commerce site to it and also froze the sale or transfer of the company’s assets.

The court later said that it would appoint a four-member board to evaluate Evaly's liabilities, which would include a former judge, a chartered accountant, a secretary, and a lawyer.

Also Read - Commerce Ministry proposes names of 3 former secretaries for Evaly board

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 in with huge discounts on its website and promises of delivery within 7-45 days. Despite the fact that the claimed delivery time has passed, many consumers have yet to get the things they ordered.

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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