IDRA Chairman obtained anticipatory Bail from High Court

April 20, 2012 in Publication

The first and present Chairman of Insurance Development and Regulatory Authority (IDRA) of Bangladesh Mr. M. Shefaque Ahmed Actuary obtained anticipatory bail in three cases filed against him. Mr. Ahmed appeared before the Hon’ble High Court on 19.04.2012 and prayed for anticipatory bail in three criminal cases and after hearing Hon’ble court granted anticipatory bail to him in all three cases. Earlier on his behalf three bail petitions were filed by Advocate M M Nuruzzaman. At the time of hearing submissions were  made that all the cases have been initiated by some fictitious persons only to harass him. As per the reports and news published in the top national newspapers like Prothom Alo, Financial Express that those false criminal cases   has been filed with the instigation of some vested quarter as Mr. M. Shefaque Ahmed starts to take tough actions against the Insurance Company engaging in illegal activities ie; misappropriating money in the name of premium, grabbing  government land etc. In Bangladesh only due to ill practices in political, commercial or in ad-ministerial departments some dishonest businessmen are allowed to make money in any way legal or illegal. Those white-collar criminals sometimes  tried to influence the entire government-machinery in their favour resulting unnecessary harassment to the persons functioning under the statutes. In a country of rule of law the Government as well as administrative and the Judiciary should take immediate actions against such dishonest businessmen for their wrong doings to ensure a fair and balanced business atmosphere which is essential for the economy of the country. It is not at all good for a government that the high officials of the statutory body in dis-charging their duties have been targeted and harassed by the so-called companies or businessmen consequently walking through the advocate chamber praying shelter of the Judiciary.