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VIQARUNNISA FUND EMBEZZLEMENT

Iqbal told to pay Tk 8cr to school

Court Correspondent
A Dhaka court in a verdict of a law suit yesterday ordered former Awami League (AL) lawmaker and ex-chairman of Viqarunnisa University Foundation
HBM Iqbal and seven others to pay Tk 8.09 crore to Viqarunnisa Noon School and College by October 31.
Tk 6 crore was transferred to
Viqarunnisa University Foundation fund from Viqarunnisa Noon School and College fund but the money was not returned.
On April 10, 2004, the then acting principal of Viqarunnisa Noon School and College Rovena
Hossain filed the law suit with District and Sessions Judge's Court of Dhaka for the FROM PAGE 1
return oftheTk 6 crore.
The other defendants of the law suit are Abdus Sattar, representative of Viqarunnisa University Foundation, former principal of Viqarunnisa Noon School and College Hamida Ali, Humayun Kabir Khan, AKM Firoz, Engineer Motiar Rahman, Rakibul Hossain Rumi and Engineer Prasanta Kumar Biswas. All the defendants are ex-members of the board of directors of Viqarunnisa Noon School and College. Another defendant is Premier Bank Ltd. Gulshan Branch.
Special Joint District Judge Foujul Azim of the Environment Court delivered the judgment
In the verdict, the judge said if they fail to pay the money, defendant Premier Bank Ltd Gulshan Branch will transfer the decreed money to the plaintiff from the account of defendant Abdus Sattar between November 1 and 15.
The judge also directed authorities concerned to cancel sale of properties of the school that took place on May 12, 2001 and on June 28,2001
IRREGULARITIES
In the complaint. Royena Hossain mentioned that the then board of directors illegally and misusing their power transferred a huge amount of money and properties to Viqarunnisa University Foundation.
She appealed to the education ministry and jhe University Grants Commission (UGC) to probe the irregularities of the foundation.
Investigating the matter, the education ministry and the UGC found facts in the allegations and
cancelled the approval of Viqarunnisa University on November 27,2002.
Following the cancellation. Abdus Sattar filed a writ petition with the High Court (HC) saying that he deposited Tk 5 crore in the name of University Reserved Fund at the Premier Bank Ltd, Gulshan Branch.
During a meeting of the managing committee on September 29, 1998, Iqbal and eight others drew Tk 5.01 crore from Viqarunnisa School and College fund in the name of loan for the Viqarunnisa University Fund, the complainant said.
The money was deposited in Abdus Sattar’s account in DNS branch of Sonali Bank in October of 1998. Later, Iqbal and Hamida transferred Tk 5 crore to Sattar's another account in Premier Bank giving the excuse of better interest rates.
Hamida also took Tk 1 crore from Viqarunnisa School and College fund on October, 2001, and deposited in Sattar's Premier Bank account.
Sattar, Iqbal, Hamida and five other defendants did not return the Tk 6 crore to Viqarunnisa Noon School and College fund even though the approval of the Viqarunnisa University was cancelled.
Besides, the defendants gobbled up large amount of money by selling the school's playground. In ' 2001, Hamida sold 3.30 acres of land to Abdus Sattar for Tk 16 lakh, according to the plaintiff.
Sources said the market value of the property was around Tk 250 crore.