There have been cases of massive looting in the private power sector in the last 15 and a half years in the country. The aggression of the Orion group was terrible. Obaidul Karim, the owner of the group, lobbied at the highest levels of the previous government and stole thousands of crores of takas by riding on the shoulders of the influential ministers and MPs of the government.
As per the terms of the contract, he got the responsibility of the project for a period of 3 years, but subsequently extended the period automatically. In addition to extending the term, Obaidul Karim grabbed Tk 5000 crore only in the name of capacity charge without generating electricity. This includes non-existent companies.
Apart from this, Obaidul Karim has hastily approved a loan of at least Tk 10,500 crore before the fall of the Awami League government. Bangladesh Bank approved a loan of Tk 10,500 crore on the proposal of three state-owned banks, Agrani, Janata, and Rupali, for the power project of Orion Group, which is a non-existent company. It is also alleged that Tk 4000 crores of loans taken from different banks have been smuggled abroad by showing 7 companies of Orion in the name of power projects.
According to Power Development Board (PDB) data, power plants have been constructed in the private sector without any tender in the last 15 and a half years. Most of them were of no use. Out of this, 7 companies of Orion Group related to private power generation have taken Tk 4 thousand 862 crores from the state only in the name of capacity charge without power generation. In between, the companies are Orion Power Meghnaghat Limited, Dutch-Bangla Power & Associates Limited, Digital Power & Associates Limited, Orion Power Dhaka Limited, Orion Power Dhaka Unit-2 Limited, Orion Power Rupsa Limited, and Orion Power Sonargaon Limited. In between,
There is no existence of Orion Power Dhaka Unit-II.
Loans with fraud and false information
Bangladesh Bank violated at least two provisions of the Banking Act and, in one, bypassed the Bank Company Act and approved the disbursement of Tk 10,579 crore proposed by Agrani, Janata, and Rupali banks during the tenure of the previous government. Even after the detection of fraud and false information, the final approval of the loan is given through syndicate financing. Violation of single customer credit limit and violation of Bangladesh Bank and Bank Company Act rules were issued relaxing only in the case of Orion (power sector) in this. Of this, a loan of Tk 5,780 crore has been approved from the troubled Janata Bank. The loan was sanctioned for a power project in Maheshkhali, Cox's Bazar, in the name of Orion Power Dhaka-2 Limited (OPDL-2), a defunct company. However, questions have already been raised at the policy-making level of Bangladesh Bank itself regarding the distribution of this loan. It is said that the loan was not distributed due to a liquidity crisis in the bank.
Laundering of Tk 4 thousand crores of loans:
Obaidul Karim took a loan of Tk 1 thousand 306 crores in the name of Dubai-based companies Energon Technology, First Gen Energy, and China Sunergy Company for the purpose of generating 100 MW of renewable solar power. The default amount of this loan is at least 500 crores. Obaidul Karim's driver, of Tk 1,76 croreAbdullah,en in the name of Orion Power Dhaka Unit-2. Khaled Muhammad Abdullah was his partner in this company. A loan of Tk 1,76 crore was taken in the name of Orion Power Dhaka Unit-2. No trace of it has been found. The amount of defaulted loans of this institution is also Tk 500 crores. The company has a 60 percent stake in China Fuxian Energy.
Apart from this, a loan of Tk 811 crore was taken in the name of Orion Power Sonargaon Limited for the purpose of generating 104 MW of electricity. Here also the amount of default is 500 crores. A loan of Tk 235 crore was taken in the name of Orion Power Meghnaghat Limited to generate 100 MW of electricity under Quick Rental.
A loan of Tk 625 crore was taken in the name of Orion Power Rupsa Limited for the purpose of generating 110 MW of electricity. In the name of Dutch-Bangla Power and Associates Limited, a loan of Tk. 102 crores and Digital Power and Associates Ltd. took a loan of Tk. 340 crores. It is said that Obaidul Karim has smuggled at least 4 thousand crores of taka abroad by taking loans in the name of various companies.
He has come this far with help from influential people.
He made influential ministers—MPs and Awami League leaders—business partners of the previous government and took big power generation projects from the government in the name of seven organizations without any tender or competition in the last fifteen years. Rental and quick rental power plants were initially set up for a period of 3 years, but this period has been gradually extended. The same center is sold multiple times to the government. Investors provide 25 to 30 percent of the total investment in these centers, while the rest is met through bank loans. Profit (return of equity) is given on equity investment. Although the government pays the construction cost of the power plant, the power plant remains with the private company. Later, the period was extended, but the construction cost was paid against the same power plant.
Among them, Mirza Azam, an influential minister of the government, was chosen as a business partner of Digital Power and Associates Limited, established in 2014. He chose then influential government minister Mirza Azam as his business partner for Digital Power & Associates Limited, founded in 2014. He has been given 40 percent shares, while Obaidul Karim's share in this company is 60 percent.
Alauddin Ahmed Chowdhury Nasim, a former Member of Parliament of Feni, has been made a business partner of Dutch-Bangla Power and Associates Limited, established in 2011. Obaidul Karim left 30 percent to him and kept 70 percent himself.
Former Narayanganj MP Shamim Osman and 38.4 percent former minister Mirza Azam have been made business partners in Orion Power Sonargaon Limited. He kept the remaining 57.6 percent shares himself.
Former Narayanganj MP Shamim Osman has been made a business partner by giving 4 percent shares of Orion Power Sonargaon Limited, and former minister Mirza Azam has been made a business partner by giving 38.4 percent shares. He kept the remaining 57.6 percent shares himself.
Apart from this, Obaidul Karim has made Mirza Azam a partner by giving 19.4 percent shares of Orion Power Rupsa Limited.
