Chamber court suspends bail for ex-Fareast Islami Life chairman
Probe accuses him and 23 others of embezzling Tk1,095 crore.
The Appellate Division's Chamber Court has suspended a High Court order granting bail to former Fareast Islami Life Insurance Company Ltd chairman Nazrul Islam until 16 November in a case over the alleged embezzlement of company funds.
Justice Rezaul Haque, sitting in the Chamber Court, passed the order today (12 October).
Attorney General Barrister Ruhul Quddus Kazal represented the state during the hearing.
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Earlier, Fareast Islami Life Insurance, represented by its acting chief executive officer Abdur Rahim Bhuiyan, filed an application seeking cancellation of Nazrul Islam's bail.
The case was filed at Shahbagh Police Station in Dhaka in 2022 by Jasim Uddin, a legal officer of the insurance company, naming its former chairman as the prime accused.
Since then, the case has involved several developments, including Nazrul Islam's arrest, remand, detention, release on bail and subsequent return to prison.
The High Court's decision to grant him bail most recently brought the case back into focus.
Following an investigation, the Detective Branch (DB) of Dhaka Metropolitan Police submitted a charge sheet to the court on 15 February this year, accusing Nazrul Islam and 23 others of embezzling Tk1,095 crore.
