Application to the High Court to resume Evali's operations, investors found

Photo: Collected

The government has stopped all operations of the e-commerce company Evaly due to fraud and irregularities with customers. Customers' money and related information have not yet been fully recovered. In the meantime, Evaly's CEO Mohammad Russell and his wife applied to the High Court to resume operations, stating that investors have been found.

Evaly came into the limelight with flashy advertisements and various lures. However, the government stopped the activities of the company due to the risk in the transaction. The High Court formed the Evaluation Board to investigate the matter. The audit team found information on Evaly's assets and bank balances, but these were negligible compared to the huge customer demand. However, the board does not want to declare the company bankrupt.

In the meantime, Evaly's CEO Mohammad Russell has given a bond to the High Court that the investors have been found. In this regard, Evaly Board Chief Justice Shamsuddin Chowdhury Manik said that an application has been received by Russell and his wife in the High Court, whether they can bring investors again. If you can, then that's good news. The company will run if investors are brought.

The judge also said that according to the auditors' calculations, the two godowns have goods worth Rs 35 crore. Gateway banks also have cash of Rs. 25 crores. But whose cash?

Meanwhile, the organization's CEO, Mohammad Russel, has forgotten the password to Evaly's server. As a result, it is not possible to open it in any way. Due to this, the audit firm is not getting the information about the customers' debts and assets.

Justice Shamsuddin Chowdhury Manik said that Evaly's server belongs to Amazon. Before this we have approached Amazon many times, also contacted the Singapore office. But they have only one thing, they can't open without password. Later, when I went to Evaly's CEO Russell Saheb, he said that he did not remember the password. And he doesn't know where the password in the diary is now.

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