• Thursday, May 26, 2022
  • Last Update : 04:24 pm

HC issues contempt rule against Delta Life administrator

  • Published at 10:55 pm March 11th, 2021
Sultan-Ul-Abedine Molla Delta Life
Sultan-Ul-Abedine Molla Collected

Molla had ordered Pallab Bhowmick, the joint executive vice-president of Delta Life Insurance, to withdraw the complaint he filed with the Anti-Corruption Commission against Hossain

The High Court on Thursday issued a contempt rule against Delta Life Insurance Company Administrator Sultan-Ul-Abedine Molla for allegedly interfering with the court order that had directed investigation on corruption allegation against M Mosharraf Hossain, chairman of the Insurance Development and Regulatory Authority.

Molla had ordered Pallab Bhowmick, the joint executive vice-president of Delta Life Insurance, to withdraw the complaint he filed with the Anti-Corruption Commission against Hossain, said Abul Kalam Azad, the lawyer for petitioner Zeyad Rahman, a member of Delta Life’s suspended board.

Based on the petition by Rahman, the HC gave Delta Life’s administrator four weeks to give reasons why his act would not be treated as contempt of the court, he said. 

The bench of Justice M Enayetur Rahim and Justice Md Mostafizur Rahman also ordered the ACC to wrap up its investigation into the complaint against Hossain and submit its report on time. 

Molla on Thursday declined to comment on the matter citing the matter is subjudice.   

The ACC on Sunday launched its investigation into the allegations of bribe of Tk 50 lakh made against the IDRA chairman by Delta Life.

ACC Director Syed Iqbal Hossain was given the charge of inquiry and its Deputy Director Nurul Huda has been assigned to investigate the allegations.

This comes after the finance ministry last month formed an inquiry committee to investigate the graft allegations pertaining to renewing the contract of Delta Life’s chief executive officer along with other regulatory approvals.

ABM Ruhul Azad, additional secretary to the Financial Institutions Division of the finance ministry, will lead the three-member inquiry committee formed last week.

The committee will investigate the veracity of the allegations against Hossain and the reasons behind the allegations, Azad told Dhaka Tribune.

The probe body has been asked to submit a report within 15 working days, he added.

The twin events give credence to Delta Life’s proclamation that the insurer was not treated fairly by the IDRA because of Hossain, himself a former employee of the 35-year-old insurer.

Earlier on February 11, the IDRA suspended the board of directors of Delta Life for four months and appointed Molla, a former IRDA member, as an administrator to the company.

But Delta Life alleges that Molla is doing the bidding of Hossain.

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