Loan default: Court asks 3 businessmen to pay Tk123cr
A Chattogram court has asked three businessmen, including Danish citizen Michael Cold, chairman of A&B Outwear Limited in Chattogram, to pay Tk123 crore in a case filed by Mercantile Bank.
The other two are Nazmul Abedin, managing director of A&B Outwear, and his wife Saleya Abedin. Nazmul Abedin is a British citizen of Bangladeshi origin.
Chattogram Artha Rin Adalat Judge Mujahidur Rahman passed the order on Thursday, Rezaul Karim, bench assistant of the court, told The Business Standard.
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The Agrabad branch of Mercantile Bank sued them for defaulting on Tk122,65,77,000 in 2020. Despite repeated order from the court, they have not come to the court. Moreover, they asked for permission to conduct the case through a procurator, Rezaul Karim added.
The court did not grant their application and ordered them to pay Tk123 crore.
Earlier, the court sentenced the chairman and managing director of A&B Outwear to one year in jail in a case filed by Brac Bank on the charge of cheque fraud of Tk93.79 crore.
There is also an allegation that they went away without paying the salary and allowance of the employees of A&B Outwear Ltd in Chattogram EPZ three years ago.
