High Court seeks list of all immovable properties of S Alam Group
A HC bench of Justice Md Kamrul Hossain Mollah and Justice Kazi Zinat Hoque gave the order today (September 29) after conducting a hearing on a writ petition filed in this regard
The High Court has asked the government to submit a list of all the immovable properties owned by S Alam Group.
A HC bench of Justice Md Kamrul Hossain Mollah and Justice Kazi Zinat Hoque gave the order today (September 29) after conducting a hearing on a writ petition filed in this regard.
Petitioner and Lawyer Md Rokonuzzaman said that the HC has ordered the law secretary and director general of Directorate General of Registration to submit the list within one month.
Keep updated, follow The Business Standard's Google news channel
Earlier on 18 September, Rokonuzzaman filed a writ with the HC seeking a ban on the transfer and selling of all moveable and immovable properties owned by S Alam Group.
The writ also sought a directive for the submission of a list of all the moveable properties of S Alam Group, its shareholder directors and their family members.
Governor of Bangladesh bank, the finance secretary, the law secretary, chairman of the Anti-Corruption Commission and Chairman of S Alam Group Saiful Alam were made respondents to the petition.
"The writ has sought a directive on the amount of loans taken by S Alam Group from different banks and financial institutions, their present conditions and liabilities, money laundered abroad and seizure of all the properties owned by them," Rokonuzzaman told the journalists.
Rokonuzzaman added that the writ has also sought a travel ban on Saiful and his family members.
Earlier on 11 September, the lawyer sent a legal notice to concerned authorities to provide information and take actions on these matters.
"The writ has been filed as no one responded to the legal notice," Rokonuzzaman added.
Last year on 6 August, the High Court ordered a thorough investigation into the allegations of at least $1 billion money laundered by Mohammed Saiful Alam.
The investigation was prompted by a report published in the national English daily The Daily Star "S Alam's Aladdin's lamp", which revealed that Saiful Alam had allegedly established businesses worth at least $1 billion in Singapore without obtaining permission from the Bangladesh Bank for overseas investments or money transfers.
