Banks asked to provide loan info of Thermax Group

The Bangladesh Bank has asked lenders in the country to provide detailed information on all the loans and liabilities of companies operated by Thermax Group.
The banks have been asked to provide the information by Wednesday. There are more than a dozen companies under the group that produce garment items and textile composites.
Industry insiders said the group has more than Tk 6,000 crore outstanding loans at a dozen banks. Of this amount, Tk 4,789 crore is owed to four state-run banks – Sonali Bank, Agrani Bank, Janata Bank and Rupali Bank.
Abdul Kadir Molla, founder chairman and managing director of Thermax Group, was also a director at South Bangla Agriculture and Commerce Bank PLC.
Bankers said that Thermax Group is not paying the bank loans regularly and is always using their loan rescheduling policy to regularise its debt.
A senior official of Janata Bank told the Daily Star that they provided the loan related information of Thermax Group to the central bank today.