HC allows Evaly’s Rassel, Shamima to transfer 50 % of their shares to relatives

The High Court on Thursday granted permission to former Evaly CEO Md Rassel and its chairman Shamima Nasrin , also his wife, to transfer half of their shares in the troubled company to three of their relatives.

HC bench of Justice Muhammad Khurshid Alam Sarkar passed the order amending the previous order putting bar on asset transfer during a hearing on a petition filed by those three relatives in this regard.

The three relatives are Rassel’s father-in-law, mother-in-law and brother-in-law.

However, three of them will not be allowed to transfer the shares without the High Court’s permission, said the court in its order.

They will be liable to the new Board of Directors of the company formed by HC regarding the shares.

The court directed the Inspector General of Prisons to assist in the transfer process as it will be conducted when both Rassel and Shamima remain behind bars.

The court also asked Evaly office building owner Sheikh Salhuddin to appear before court on February 24.

Otherwise, the court directed police to arrest him and produce before court.

Lawyer Shamim Ahmed Mehedi appeared for Rassel and Shamima’s relatives in the court while lawyer Syed Mahsib Khan, presented the writ petitioner’s side and Taposh Kanti Bal appeared for the Ministry of Commerce.

Lawyer Syed Mahsib said the relatives of the former executives of Evaly appeared before court and said they are working to reform the company.

The court passed the directions after they said they want to take steps to return the products and money to the affected consumers of Evaly and assist the Board in this regard, he said.

On last September 22, the High Court ordered a ban on the sale and transfer of movable and immovable property after an application submitted by an affected customer seeking dissolution of the company and direction on forming a board of directors for the company.

On October 18, the High Court formed a 5-member board, led by former justice Shamsuddin Chowdhury Manik, to manage, control and assess the liabilities of shuttered e-commerce platform Evaly.

Other members of the board are former secretary Mohammad Rezaul Ahsan and additional secretary Mahbub Kabir Milon, chartered accountant Fakhruddin Ahmed and lawyer Barrister Khan Mohammad Shamim Aziz.

Source: United News of Bangladesh