How a court-constituted board will function in the management of Evaly
The High Court formed a five-member committee headed by former judge of the Appellate Division HM Shamsuddin Chowdhury Manik to manage the country’s popular e-commerce company Evely. On Monday (October 18), Justice Muhammad Khurshid Alam Sarkar gave the order at the High Court bench. BBC news.
Who are on the Board:
A.M. Masum, the lawyer of the victims who filed a money laundering case against Evaly, said that among the board members, former judge A.A.E.M. Shamsuddin Chowdhury Manik will serve as the chairman of the company. Mahbub Kabir Milan, an additional secretary in OSD, will perform the duties of managing director. Besides, chartered accountant Fakhruddin Ahmed, lawyer Shamim Aziz are also on the board. Another member of the board is Rezaul Ahsan, a retired secretary proposed by the Ministry of Commerce. They will get salary from the government for performing this duty.
How the Board will work:
AM Masum said, 'This board will initially conduct an audit on the condition of Evaly. Accounts payable to them, how much money they owe to consumers, how much assets they have, that is, a check on the state of the company. That's why they will audit at the beginning.'
After the audit, the board will decide on how Evaly will pay the debts, whether the company can continue to operate or whether it should be declared closed. If it is possible to manage the company then this board will manage it. If it is not possible to manage the company will be liquidated. This committee will manage the regular board including the annual meeting of the company. "This means that since Evely's CEO and chairman are in prison, the board will do whatever it takes to run the company."
He said that on November 23, the board will present the information they received to the court. A customer petitioned the High Court seeking winding up of the company after not receiving the goods and money even after five months of payment after ordering products from Evaly. In the middle of last month, Evaly's chief executive officer Mohammad Russell and chairman Shamima Nasreen were arrested by RAB in a case of money laundering. They are currently in jail.