Court imposes travel ban on 5 Aman Group directors over Tk222 crore loan default
The court imposed a temporary travel ban on the individuals involved
A Dhaka court has issued a travel ban against five directors of Aman Group over allegations of loan default amounting to approximately Tk222 crore.
Judge Hasan Zaman of Dhaka's Money Loan Court-6 issued the order yesteray (26 August), in response to a petition filed in a case by Trust Bank.
The directors against whom the travel ban has been imposed are Aman Group's Chairman and Managing Director Md Rafiqul Islam and Directors Md Shafiqul Islam, his wife Mukta Islam, Md Towfiqul Islam and Md Torikul Islam.
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Monirul Islam, a lawyer for Trust Bank, told The Business Standard that the bank filed the case some time ago over a loan default of approximately Tk222 crore. Yesterday, in response to a petition by the bank, the court imposed a temporary travel ban on the individuals involved.
In addition, the court has issued a show-cause notice asking why the passports of the accused should not be permanently confiscated. The accused have been instructed to appear in person before the court within the next 15 days to provide an explanation, said the Monirul.
As per the case statement, the accused took a total loan of Tk156.81 crore from Trust Bank. As of 24 November 2024, the outstanding amount, including interest and other charges, stood at Tk222,07 crore.
Among the companies owned by Aman Group are the publicly listed Aman Feed Mills and Aman Cotton Fibrous. In addition, the group owns Aman Tex, Aman Cement Mills, and Aman Trading.
Previously, on 7 August, a travel ban was issued against four directors of Aman Group's associate company, M/s Islam Brothers and Company, in a case filed by Bank Asia to recover defaulted loans.
