Bring Badshah Group owner back over Tk200cr loan default: Ctg court
The group took loans exceeding Tk500 crore from eight banks and its chairman fled to Canada
The Chattogram money loan court ordered the authorities concerned to bring back the Badshah Group's chairman Isa Badshah from Canada in a case involving a default of Tk200 crores.
Judge Mozahidur Rahman of the money loan court, on Tuesday, passed the order in a case filed by One Bank to realise crores of taka loan.
Jewel Das, an official of One Bank, said, "After hearing the case filed by the bank, the court issued a six-month imprisonment order against Isa Badshah. As the loan defaulter is staying abroad, the court then ordered the authorities to bring him back to the country."
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The home secretary, finance secretary, and the Bangladesh Bank governor have been directed to take the necessary measures to implement the court's order.
According to the bank and court data, in 2019, One Bank filed a loan case against Badshah Group over a Tk200 crore loan default. The court issued a decree in favour of the bank in 2021.
One Bank then filed a jari case that year. The borrower did not appear in court on the 23 hearing dates. Even the bank could not sell the property as collateral security against the loan due to various complications.
Mohammad Isa Badshah, chairman of Badshah Group, moved to Canada in 2018 and is now operating various businesses abroad and having luxurious apartments and houses in Toronto of Canada.
Badshah Group has taken loans exceeding Tk500 crore from eight banks, including One Bank, Shahjalal Islami Bank, Eastern Bank, Mercantile Bank, and EXIM Bank.
A news headlined "Take loans, leave country: How some Ctg businesses avoid paying back" was published in The Business Standard on 19 April. The report disclosed that 33 owners of 22 business organisations in Chattogram have left the country in the last decade after borrowing around Tk20,000 crore.
