When asked about the statement of Taufika Foods & Lovello Ice Cream PLC concerning the news titled “Travel ban imposed on Lovello Ice Cream’s MD Ekramul along with his three children” published on 26/11/2025 at 4:20 PM in the online portal of The Business Standard, the Managing Director of the company, Mr. Md. Ekramul Haque, stated that Taufika Foods & Lovello Ice Cream PLC had obtained loan facilities from Shimanto Bank PLC for business purposes.
However, during the tenure of the previous fascist government—especially since 2023—the overall business environment in the country deteriorated severely. Despite the severe economic downturn, the company continued its best efforts to make regular loan repayments to Shimanto Bank. Subsequently, immediately after the July 2024 mass uprising, Taufika Foods & Lovello Ice Cream PLC, like many others, faced adverse business conditions, resulting in disruptions to regular loan repayments. Consequently, in April 2025, Shimanto Bank refrained from keeping the company’s loan accounts regular.
Nevertheless, under the directive of the Hon’ble High Court, all loan accounts have remained regular to this day. In addition, as per Bangladesh Bank’s BRPD Circular No. 7 dated 26/09/2025, the company has already deposited the required down payment with the concerned bank for regularization of all loans, and therefore, it is expected that the matter will soon be resolved.
However, since the bank has not yet updated the loan rescheduling, the Hon’ble Court has issued today’s order based on a previously filed complaint. The company expresses hope that once Shimanto Bank updates the loan rescheduling, the said complaint will be resolved at the earliest.
