Loan default: Ctg court issues arrest warrants against five businessmen
Joint District Judge Mujahidur Rahman of the Money Loan Court gave the order on Tuesday (September 12).
A court in Chattogram has issued arrest warrants against five businessmen for not paying Tk22.7 crore loan taken from Eastern Bank eleven years ago.
Joint District Judge Mujahidur Rahman of the Money Loan Court gave this order on Tuesday (September 12).
Rezaul Karim, bench assistant of the court, confirmed the matter to The Business Standard.
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The five businessmen are - Dress Designers Limited Managing Director Razzakul Haider, Chairman Lokman Chowdhury, Directors Mohammad Ali Imam, Hasna Begum, and former director Mohammad Ali.
According to the documents of the case, the loan of Tk22.70 crore taken from Eastern Bank's Agrabad branch has not been paid even in eleven years.
Later, the bank authorities filed a case to recover the defaulted loan.
The court issued an arrest warrant against them as there was no immovable property mortgage against the loan and they did not appear in the court with their passports as per the court order.
