Tk 43 crore embezzlement: HC refuses to grant bail to former MD, VP of BIFCL

The High Court today refused to grant anticipatory bail to former managing director and vice president of Bangladesh Industrial Finance Corporation Limited (BIFCL), a nonbanking financial organisation, in two corruption cases filed for misappropriating Tk 43 from the organisation.   

Moreover, the HC ordered Inamur Rahman, former managing director of BIFCL, and its former vice president and head of business Syed Fakhri Faisal to surrender before the trial court concerned in two weeks in connection with the cases.

The HC bench of Justice Md Nazrul Islam Talukder and Justice Mohi Uddin Shamim came up with the order after virtually hearing two separate petitions filed by Inamur and Fakhri seeking anticipatory bail in the case.

On August 8, 2009, the Anti-Corruption Commission filed two separate cases with its integrated district office against 11 persons including Inamur and Fakhri on charges embezzling Tk 43 from BIFCL through two companies.