The Chattogram Money Loan Court has ordered the seizure of 307 shatak (about 3.07 acres) of land, two flats, and a bank account containing over Tk 4 crore belonging to S Alam Group. This comes in connection with a massive loan default case of Tk 2,280 crore filed by Islami Bank’s Khatunganj branch.
Large Loan Default Case Against S Alam Group
S Alam Group has been accused of defaulting on a loan worth Tk 2,280 crore from Islami Bank Bangladesh PLC, Khatunganj branch. The case was filed against S. Alam Cold Rolled Steels Ltd and 18 other individuals.
Read More: Nationwide 72-Hour Transport Strike from August 12 Over 8 Demands
Properties and Assets Ordered to be Seized
In the case, Islami Bank requested the court to freeze certain assets of the accused to prevent their transfer during the ongoing trial.
The list submitted to the court included:
-
307 shatak of land in eight different plots
-
Two flats in Dhaka, each approximately 1,350–1,500 square feet in size
-
A bank account at Pubali Bank’s Khatunganj branch containing Tk 4.32 crore
Court’s Decision
On Thursday (August 8), Judge Md. Helal Uddin of Chattogram Money Loan Court-1 issued the order to seize these properties and freeze the bank account.
Court bench assistant Mohammad Ershad confirmed this information to TBS.
Bank’s Request to Prevent Asset Transfer
The bank argued that since the accused had taken loans but failed to repay them, the assets should remain frozen to prevent any sale or transfer.
Following this request, the court granted the order in Favor of the bank.
“মামলা চলমান থাকাকালীন সংশ্লিষ্ট সম্পত্তি ও ব্যাংক অ্যাকাউন্টের ওপর নিষেধাজ্ঞা বজায় রাখার নির্দেশনা দিতে আদালতের কাছে অনুরোধ করেছি, যাতে এসব স্থানান্তর না করা হয়।”
Translation:
“We requested the court to maintain restrictions on the relevant properties and bank account during the trial so they cannot be transferred.”
Source: TBS
