The bank initially intends to hear the cases of the top 50 private sector defaulters who possess Tk 1,135 crore or 32 percent of the bank's default loans.

The full bank board will hear the complex cases while a committee led by the bank's chairman will hear the cases with small amounts. This committee will also include the managing director and a board member.

The next board meeting will chalk out the details of the nature of the hearings.

The default loans of Sonali Bank stood at Tk 5,665 crore till June. The leading 50 private and public sector defaulters owe the bank Tk 1,610 crore.

Sonali has 19 public sector defaulters who owe the bank Tk 474 crore. Sixteen percent of its default loans worth Tk 799 crore are possessed by the top 20 defaulters.

Among its top 10 defaulters, the food ministry holds the biggest chunk of outstanding loans of Tk 283 crore of which Tk 110 crore in default loans. Bangladesh Textile Mills Corporation seconds the list with Tk 145 crore in outstanding loans -- Tk 143 crore in classified status.

Deshma Shoe Industries, a private company, holds the third position with Tk 60 crore in classified loans. The other defaulters are : Dhaka Vegetable Oil Industry owned by former FBCCI vice-president Mohammad Ali (Tk 50 crore in default loans), Riverside Leather and Food Industry (Tk 49.50 crore), Ajax Jute Mills Ltd (Tk 43 crore), Bangladesh Shipping Corporation (Tk 13 crore), Sonali Cotton Mills (Tk 40 crore), Ahmed Jutex Mills (Tk 39 crore) and Yusuf Brothers Tannery (Tk 38 crore).