Tk5cr loan default: Arrest warrants issued against Regent Fabrics chairman, MD, 7 others
The individuals named in the arrest and detention order are Regent Fabrics chairman Yakub Ali, MD Yasin Ali, along with family members Tanvir Habib, Salman Habib, Anjuman Ara Begum, Amina Mahbub, Salma Yasin, Tanima Mahbub, and Sarfenaz Mahbub.
The Chattogram Money Loan Court-1 has issued civil detention and arrest warrants against nine members of the family behind Regent Fabrics Ltd, a concern of Habib Group, in connection with a Tk5 crore loan default with Eastern Bank's Agrabad branch.
The order was passed today (1 October) by Judge Md Helal Uddin, confirmed court bench assistant Mohammad Ershad to The Business Standard.
"Following Eastern Bank's petition, the court has issued civil detention and arrest warrants against the defendants," Ershad said.
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According to case documents, Regent Fabrics chairman Yakub Ali, managing director Yasin Ali, and seven other family members had defaulted on loans taken from Eastern Bank. The bank filed a money loan suit against them in 2022 after repeated failures to repay within the stipulated timeframe.
On 27 September 2023, the court decreed Tk3.98 crore against the company and its directors. As the amount remained unpaid, Eastern Bank subsequently initiated an execution suit, seeking recovery of Tk5.05 crore, including accrued interest and other charges.
The individuals named in the arrest and detention order are Regent Fabrics chairman Yakub Ali, MD Yasin Ali, along with family members Tanvir Habib, Salman Habib, Anjuman Ara Begum, Amina Mahbub, Salma Yasin, Tanima Mahbub, and Sarfenaz Mahbub.
Court sources said that despite multiple notices being issued, the defendants did not make any effort to settle their dues. Consequently, the court ordered their civil detention and issued arrest warrants in response to the bank's appeal.
