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The Bangladesh Shilpa Bank Order, 1972 (President's Order)


32. Notwithstanding any agreement to the contrary, the Bank may, by notice, require any industrial concern to which it has granted any loan or any person who is liable for payment of such loan forthwith to repay the loan in full, if-
(a) it appears to the Bank that information, false or misleading in any material particular, has been given in the application for the loan; or
(b) the industrial concern has failed to comply with the terms of any agreement with the Bank in the matter of the loan; or
(c) there is a reasonable apprehension that the industrial concern is unable to pay its debts or may go into liquidation; or
(d) the property pledged, mortgaged, hypothecated or assigned to the Bank as security for the loan, is not insured or kept insured by the industrial concern to the satisfaction of the Bank or has, in the opinion of the Bank, depreciated in value by more than twenty per cent and further security to the satisfaction of the Bank is not given; or
(e) without the permission of the Bank, machinery or other equipment or any asset is removed from the premises of the industrial concern without being replaced; or
(f) without permission of the Bank, any properly of the industrial concern is sold, transferred, exchanged or alienated in any manner; or
(g) without prior approval of the Bank in writing, the management of the industrial concern has been changed or altered; or
(h) without any satisfactory reason, the industrial concern or the person responsible for payment of the loans has failed to attend or reply to the enquiries made by the Bank or failed to supply the papers or documents asked for by the Bank; or
(i) for any other reason, it is necessary, in the opinion of the Bank, to protect the interest of the Bank or of the industrial concern.

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Ministry of Law, Justice and Parliamentary Affairs