Arrest order issued against Elias Brothers directors
The five are managing director Mohammad Shamsul Alam and directors Md Nurul Abshar, Md Nurul Alam, Mrs Kamrun Nahar Begum, and Mrs Tahmina Begum.
A Chattogram court has ordered civil arrest and issued fresh arrest warrants against five directors of Mohammad Elias Brothers (Pvt) Ltd for defaulting on a Tk 43 crore loan from Bank Asia's Khatungonj branch and violating court conditions.
Judge Md Helal Uddin of Chattogram Money Loan Court-1 passed the order today (27 April). Court assistant bench officer Md Ershad confirmed the matter to The Business Standard.
The five are managing director Mohammad Shamsul Alam and directors Md Nurul Abshar, Md Nurul Alam, Mrs Kamrun Nahar Begum, and Mrs Tahmina Begum.
Keep updated, follow The Business Standard's Google news channel
Court records show the recovery case was filed in 2013 to realise Tk 43,69,77,283 borrowed from the branch. Later, the court approved a settlement waiving interest and allowing repayment of Tk 30,88,43,000 in instalments.
The borrowers failed to pay instalments regularly, prompting the court to issue arrest warrants on 13 July 2025.
They later filed a writ petition with the High Court, which granted a stay on condition of paying Tk 2 crore within four months. As the amount was not paid within the deadline, the High Court dismissed the petition on 10 March.
Following the order, Bank Asia authorities applied to the lower court to execute the arrest warrants.
