Court orders appointment of receivers to manage properties of S Alam, Abdul Hannan

A Dhaka court has ordered the appointment of receivers to manage seized properties belonging to S Alam Group Chairman Mohammad Saiful Alam, also known as S Alam, and former air chief marshal (retd) Sheikh Abdul Hannan.

The order covers 463.87 decimals of land and structures in Chattogram registered in the name of Mohammad Saiful Alam, as well as several properties linked to Sheikh Abdul Hannan, including flats and land in different parts of the country.

Dhaka Metropolitan Senior Special Judge Sabbir Fayez, issued the directive today (19 January), following two separate petitions filed by the Anti-Corruption Commission (ACC). Court bench assistant Riaz Hossain confirmed the matter.

Earlier in the day, ACC Deputy Director Tahasin Munabil Haque and Assistant Director Mahmudul Hasan sought the appointment of receivers to ensure proper supervision, management and maintenance of the seized assets.

In its application regarding S Alam Group, the ACC stated that a joint investigation team had been formed to probe allegations of money laundering against Mohammad Saiful Alam, his associated entities and related individuals. The inquiry found that Alam and those linked to him allegedly took unlawful loans from various banks in their own and proxy names and embezzled the funds to amass vast assets at home and abroad in their own names and those of family members.

The ACC further said that information gathered from multiple sources during the investigation indicated attempts by S Alam and his family members to transfer or dispose of immovable properties. In this context, the court had earlier ordered the seizure of the properties following an ACC plea. To ensure proper control, management, monitoring and preservation of the seized land, structures and flats listed in the seizure order, the appointment of receivers was deemed necessary.

In a separate application concerning Sheikh Abdul Hannan, the ACC mentioned several properties, including a flat with common space measuring 699.25 square feet on 0.250 katha of land in Nikunja residential area of Khilkhet, valued at Tk13 lakh, and another flat in the same area measuring 823.83 square feet on 0.250 katha of land, valued at Tk14.86 lakh.

The application also cited a 2,250-square-foot flat with common space and basement car parking in Mirpur DOHS, registered in the name of his wife and valued at Tk37 lakh. Additionally, it listed plots of 3.85 decimals, 2.42 decimals and 1.57 decimals of land in Rupganj, Narayanganj, registered in Sheikh Abdul Hannan's name, as well as a seven-storey building under construction on 320 square feet of land at the Mirpur Military Officers' Housing Project.

After hearing the petitions, the court ordered the appointment of receivers to oversee and maintain all the listed properties.