Beximco top defaulter

Finance Minister AMA Muhith yesterday revealed a list of 2,196 loan defaulters who dodged loans of Tk 15,451 crore and told parliament that the government has initiated steps to recover the amount.

The list updated up to March 2009 by Bangladesh Bank's Credit Information Bureau includes only those who defaulted on loans of Tk 1 crore and above each. Among the defaulters are apparel units, different government organisations including a ministry, media houses, private aviation companies, real estate companies, leather and tannery units, and even educational institutions.

The present government has already recovered Tk 591 crore defaulted loans until March 2009, Muhith said in a scripted answer to a query from lawmaker Noor Afroz Ali. The finance minister said a separate task force cell was set up at Bangladesh Bank to recover the amount.

Beximco Group tops the list of loan defaulters with its Beximco Textiles Ltd alone having defaulted on Tk 353.89 crore.

Padma Textile Mills and Shinepukur Holdings Ltd, sister concerns of Beximco Group, defaulted on Tk 292.91 crore and Tk 134.35 crore, Beximco Knitting Ltd defaulted on Tk 81.06 crore, Beximco Engineering Ltd Tk 59.80 crore, Beximco Computers Ltd Tk 11.02 crore and Beximco Fashions Tk 9.76 crore.

Beximco Group Vice-Chairman Salman F Rahman is the private sector adviser of ruling Awami League chief Sheikh Hasina.

Besides Beximco, Dandy Dyeing of Sayeed Iskander, younger brother of BNP Chairperson Khaleda Zia, defaulted on Tk 40.64 crore while Khamba Ltd, owned by controversial businessman Giasuddin Al Mamun, defaulted on Tk 19.61 crore.

A few state-owned organisations are also on the list; those include Bangladesh Jute Mills Corporation, Bangladesh Textiles Mills Corporations, Adamjee Jute Mills Ltd, Bangladesh Agricultural Development Corporation, and the food ministry.

Media houses including Amar Desh Publications Ltd, One Entertainment Ltd, Dialogue Publications, Boishakhi Media Ltd, Nationwide Communications Ltd, and Janakantha Ltd are also on the list.

The list has a number of private aviation companies including the Best Aviation with defaulted on loans of Tk 6.96 crore and Air Parabat Ltd with Tk 14.18 crore.

Viqarunnisa University and Delta School are the two educational institutions with defaulted on loans of Tk 1.56 crore and Tk 1.44 crore.

Westmont Power (Bangladesh) Ltd, which is owned by Tajul Islam Faruk who filed an extortion case against Hasina, defaulted on Tk 30.44 crore.

"Steps were taken to quickly dispose the cases on defaulting loans with different courts including the money loan court to expedite the process of recovering the amount," Finance Minister Muhith said in parliament. Besides efforts continue through direct and indirect supervisions to recover defaulted loans of different banks.

Assuming the office, the finance minister said on February 1 that the government would take stern action against loan defaulters.

Talking to reporters on that day, Muhith, who was the finance minister in dictator HM Ershad's government, said, "I do not like loan defaulters at all. In the early 1980s, I was the first to identify them and take action against them. This time more stringent actions will be taken."

TOP 50 DEFAULTERS
Beximco Textiles Ltd defaulted on Tk 353.89 crore, Padma Textile Mills Ltd Tk 292.91 crore, Bangladesh Jute Mills Corporation Tk 267.44 crore, Bangladesh Textile Mills Corporation Tk 176.95 crore, SDS International Ltd Tk 139. 95 crore, Shinepukur Holdings Ltd Tk 134.35 crore, Magura Paper Mills Ltd Tk 126.05 crore, Adamjee Jute Mills Ltd Tk 124.75 crore, Fair Expo Weaving Mills Ltd Tk 96.53 crore, Beximco Knitting Ltd Tk 81.06 crore, Riverside Leather & Footwear Industries Ltd Tk 78.06 crore, Arch Ltd Tk 77.80 crore, Bangladesh Auto-rickshaw Chalak SF Tk 77.56 crore, Shamsul Al Amin Cotton Mills Ltd Tk 74.42 crore, Khulna Newsprint Mills Ltd Tk 71.11 crore, Qaumi Jute Mills Tk 65.95 crore, Desh Beverage Company Ltd Tk 61.17 crore, Samina Tannery Pvt Ltd Tk 60.98 crore, Star Cement Industries Tk 60.89 crore, Bikrampur Potato Flakes Industries Tk 60.18 crore, Beximco Engineering Ltd Tk 59.80 crore, Desma Shoe Industries Ltd Tk 59.37 crore, RM Super Steels Ltd Tk 58.92 crore, One Spinning Mills Ltd Tk 58.75 crore, Lexco Ltd Tk 54.72 crore, National Cement Mills Ltd Tk 53.91 crore, Namnam Bangladesh Associates Ltd Tk 53.54 crore, Fahim Marble Corporation Ltd Tk 53.38 crore, Nirman International Contracting Company Tk 51.95 crore, Ismail Carpet Industries Tk 51.92 crore, Rahman Ahsan Cotton Spinning Mills Ltd Tk 51.52 crore, Protein Foods Ltd Tk 50.48 crore, Musk Sweater Composite Ltd Tk 49.95 crore, Chowdhury Leather and Company Ltd Tk 49.33 crore, Globe Metal Complex Tk 47.99 crore, Bangladesh Agricultural Development Corporation Tk 47.69 crore, Mizan & Suman Tannery Pvt Ltd Tk 47.28 crore, Bright Textile Industries Ltd Tk 46.96 crore, AG Textile Mills Ltd Tk 46.82 crore, Imperial Dyeing & Hosiery Mills Ltd Tk 46.68 crore, Priyanka Spinning Ltd Tk 45.73 crore, Ashraf Textile Mills Ltd Tk 45.41 crore, Alfa Tobacco Manufacturing Company Ltd Tk 45.04 crore, Classic Supplies Ltd Tk 43.72 crore, AB Vegetable Oil Industries Ltd Tk 43.20 crore, Sumis Sweater Ltd Tk 43.17 crore, Biswas Garment Ltd Tk 42.36 crore, Mita Textile Ltd Tk 41. 90 crore, Shahil Fashions Ltd Tk 41.81 crore, and News Style Garments Ltd Tk 41.35 crore.

Of the media houses, Amar Desh Publications Ltd defaulted on Tk 38.24 crore, Dialogue Publications Tk 36.98 crore, One Entertainment Ltd Tk 35.22 crore, Boishakhi Media Ltd Tk 31.21 crore, Nationwide Communications Ltd Tk 27.73 crore, Focus Multi Media Company Ltd Tk 19.58 crore, Janakantha Ltd Tk 17.12 crore, WordTel Bangladesh Ltd Tk 12.44 crore and Ekushey Television Ltd Tk 12.35 crore.