Covid-19 Cash crunch force conglomerates into tussle


Post View:

Covid-19 Cash crunch force conglomerates into tussle

Covid-19 situation forced two leading business conglomerates to engage into a tussle; as one needs emergency cash to cover their ongoing expenses while other seeks necessary banking documents, industry insiders said.

The case filed against Ron Haque Sikder, Managing Director of Sikder Group, is the result of the corporate tussle between two top business conglomerates (Sikder Group and Nasa Group) who have been operating business entities in many sectors including Bank, Real State and Textile, business analysts said.

Both the groups have been leading business activities during last one decade ballooning their fortune due to mainly supportive environment from current political situation.

Meanwhile, the National Bank Limited (NBL) in a protest of a case at Gulshan Police Station against its director Ron Haque Sikder said that the case was filed with baseless and concocted allegations. The letter of protest signed in NBL letter-head pad by its legal advisor Abdul Baset Majumder demanded neutral investigation and punishment to actual offenders what it said “the plaintiff  and Board of Directors of Exim Bank Limited”.

“My client has been operating business at different sectors since independence. The intention of such baseless case is to sabotage the image of Board of Directors of the NBL,” Mr. Majumder said in the statement. Explaining the incident, the statement said Mr. Ron Haque Sikder did not apply for any loan application to Exim Bank which was mentioned in the case. “My client did not apply for such loan to Exim Bank, did not visit the bank Gulshan Branch on May 7 and did not meet anyone on that day,” the statement also cited. “While the client did not apply for loan amount of Tk 500 crore, the matter of bargaining in such issue is false and baseless. The Exim Bank authority will not be able to show any evidence of such loan application by Mr. Ron Haque Sikder,” the statement further said.

The groups heads engaged loggerheads using their media which intensified when a case was filed and the matter published by country’s top circulated daily on Monday.



Please enter your comment!
Please enter your name here

Share post:




More like this

Southeast Bank reviews Business Achievements and Charts Future Course in Q4 meeting

BM Desk:  Southeast Bank PLC. successfully conducted its fourth Quarter...

Mercantile Bank hosts workshop on Cluster-Based Finance in Rangamati

BM Desk: Mercantile Bank PLC. recently organized a day-long workshop...

Jamuna Bank hosts workshop for Expats at Hazrat ShahJalal Airport

BM Desk: In line with the Bangladesh Bank Financial Inclusion...

Marcel customer wins big in Digital Campaign Season-19

BM Desk: Alauddin, a hard-working auto mechanic from Begumganj, Noakhali,...