Bangladesh Bank has directed state-run Sonali Bank to classify Tk 106 crore in loans taken by Orion Infrastructure Ltd as defaulted, due to repeated repayment failures. The bank must reclassify these loans by August 22 and report to the Credit Information Bureau. Despite prior central bank approval to keep the loans unclassified under the condition of clearing overdue instalments by May 2024, Orion Infrastructure only repaid Tk 2 crore in cash and issued 15 cheques, yet to be cashed. The loans, primarily for the construction of the Mayor Mohammad Hanif Flyover in Dhaka, now fall under the bad and loss category due to outstanding instalments.
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