Sonali Bank sues Keya Cosmetics to recover classified loan | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Thursday
July 24, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
THURSDAY, JULY 24, 2025
Sonali Bank sues Keya Cosmetics to recover classified loan

Stocks

Ahsan Habib
15 February, 2023, 09:35 pm
Last modified: 15 February, 2023, 09:39 pm

Related News

  • California Governor Newsom to sue Trump over National Guard deployment amid LA protests
  • Sonali Bank profit jumps 32% to Tk988cr in 2024
  • Discrepancy of Tk70.84cr: Fu-Wang Foods new owner Minori files arbitration suit against ex-owners 
  • 11 jailed over Sonali Bank loan scam
  • Sonali Bank CBA leader Zakir Hossain arrested over lobbying, extortion

Sonali Bank sues Keya Cosmetics to recover classified loan

Ahsan Habib
15 February, 2023, 09:35 pm
Last modified: 15 February, 2023, 09:39 pm
Sonali Bank sues Keya Cosmetics to recover classified loan

Sonali Bank has recently filed a case in the money loan court against Keya Cosmetics Ltd and its directors for the recovery of defaulted loans amounting to over Tk20 crore.

In the case statement, the lender's Bangabandhu Avenue branch said its total loan with interest to the company is Tk24 crore. And if there is any objection or statement regarding the case, the company has been given a notice to appear in court on 20 February.

Earlier in April 2021, Pubali Bank published an advertisement inviting tenders for the planned auction of nearly 850 decimals of land at Keya Group's factory complex, along with the factory infrastructure, and also the mortgaged luxury apartment complex owned by the sponsor-directors in the capital's Gulshan area.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

The auction schedule included assets owned by Keya Cosmetics Ltd, the group's flagship company, Keya Yarn Mills Ltd and its founder Abdul Khaleque Pathan and his family members.

With uncharged interests added, Keya Group and its sponsor-directors owe more than Tk800 crore to Pubali Bank, according to the bank's advertisement for auction.

The company later paid the loan installment, and the Pubali Bank withdrew the notice of auction, said a senior official of Keya Cosmetics.

The Anti-Corruption Commission (ACC) has filed five cases against Abdul Khaleque Pathan, his wife, and their three children in 2021 on allegations of amassing illegal wealth worth more than Tk183.84 crore and concealing assets worth more than Tk96.29 crore.

In November last year, the Bangladesh Securities and Exchange Commission appointed an audit firm to conduct a special audit of Keya Cosmetics' financial statements for the previous five years as the market regulator suspected mismatches in the accounts that misled investors.

In April 2022, the stock market regulator also appointed two independent directors for Keya Cosmetics Ltd in a bid to revive the business and protect the interests of investors.

The company, which is listed on the stock market, was once a popular brand in the cosmetics market but plunged into such a sorry state due to poor leadership and mismanagement.

About a decade ago, its shares were traded at Tk140 each on the Dhaka Stock Exchange, but currently they are trading at only Tk6.

Last year, the company released financial reports for the financial years 2018-19 and 2019-20 together. After that, it did not give any reports.

Keya Cosmetics' loss per share deepened to Tk12.94 for FY19, which dragged its net asset value against each share to Tk0.02 from Tk14.02 at the end of June 2018.

However, absorbing the one-off shock, the company posted Tk0.24 in earnings per share for FY20 against each share having a face value of Tk10.

Top News

Keya Cosmetics / Sonali Bank / sue

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • A crane removes debris from the BAF fighter jet that crashed into Milestone School and College on Monday, 21 July 2025. Photo: Olid Ibna Shah
    Milestone plane crash: 15-year-old succumbs to 85% burn injuries; death toll at 30
  • An An-24 aircraft of Angara Airlines takes off from the airport of Irkutsk, Russia, in this picture taken in April 2014. Photo: Reuters/File
    Plane with 50 aboard crashes in Russia's far east, no survivors
  • Pay Commission formed to revise salary structure of employees under National Pay Scale
    Pay Commission formed to revise salary structure of employees under National Pay Scale

MOST VIEWED

  • Photo: Collected
    Bangladeshi man jailed for life in UK for murdering wife in front of their baby
  • Ctg port authority halts contractor recruitment for Kamalapur ICD operations for two months
    Ctg port authority halts contractor recruitment for Kamalapur ICD operations for two months
  • Fire at Cosmo School in Mirpur on 23 July 2025. Photo: TBS
    Fire breaks out at Cosmo School in Mirpur following generator explosion
  • Representational image. File Photo: Rajib Dhar/TBS
    Debate arises as edu adviser says postponed HSC exams of 22 and 24 July will be held on same day
  • BB issues dress code for all, discourages short-sleeved or length dresses, leggings for female staff
    BB issues dress code for all, discourages short-sleeved or length dresses, leggings for female staff
  • Infographics: TBS
    Stay orders won’t shield defaulters: BB governor 

Related News

  • California Governor Newsom to sue Trump over National Guard deployment amid LA protests
  • Sonali Bank profit jumps 32% to Tk988cr in 2024
  • Discrepancy of Tk70.84cr: Fu-Wang Foods new owner Minori files arbitration suit against ex-owners 
  • 11 jailed over Sonali Bank loan scam
  • Sonali Bank CBA leader Zakir Hossain arrested over lobbying, extortion

Features

Photo: Collected

24 July: More than 1400 arrested, 3 missing coordinators found

14h | Panorama
Photo: Mehedi Hasan/TBS

Aggrieved nation left with questions as citizens rally to help at burn institute

1d | Panorama
Photo: Mehedi Hasan/TBS

Mourning turns into outrage as Milestone students seek truth and justice

1d | Panorama
Illustration: TBS

Uttara, Jatrabari, Savar and more: The killing fields that ran red with July martyrs’ blood

2d | Panorama

More Videos from TBS

Turkey has a dangerous hypersonic missile in its arsenal

Turkey has a dangerous hypersonic missile in its arsenal

11m | TBS World
Bangladesh Bank withdraws dress code guidelines

Bangladesh Bank withdraws dress code guidelines

1h | TBS Today
Thai-Cambodian troops clash over disputed border

Thai-Cambodian troops clash over disputed border

2h | TBS World
Former chief justice Khairul Haque detained

Former chief justice Khairul Haque detained

3h | TBS Today
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net