The Investment Corporation of Bangladesh or ICB, which is the trustee of the three debentures issued by the BEXIMCO (Bangladesh Export Import Company Limited) — BEXIMCO Textiles Limited, BEXIMCO Denims Limited and BEXIMCO Synthetics Limited — has declared that ICB and no other institutional investor has any claims on the debentures against their investment as BEXIMCO has cleared all their dues.

Media reports maintained this while adding ICB (the trustee) has recently issued a certificate regarding the matter even as it maintained that documents and charge documents mortgaged by BEXIMCO were also in the process of being released.

It may be mentioned here that the three debentures were issued in 1994 and had fund sizes of Taka 24 crore, Taka 30 crore and Taka 37.5 crore, respectively, even as on 29 April 2021, BEXIMCO wrote to the ICB informing it that the company had already adjusted all of its debenture liabilities and requested the ICB to issue a ‘no due certificate’ against its debenture liabilities while also requesting the trustee to release all charge documents, along with vacant charges, mortgaged assets and personal guarantees, with the Registrar of Joint Stock Companies and Firms.

Meanwhile, on 24 May (Monday), the ICB, which is the trustee of the debentures, reportedly, issued a notice underlining that BEXIMCO had taken the necessary steps to settle the investor liabilities of its three debentures.