Swadesh Properties’ rejoinder and our reply

Swadesh Properties Ltd has issued a rejoinder to a report published by The Business Standard on 17 February, titled "How Swadesh Properties ownership changed with Awami League ouster", calling it "false, fabricated, and baseless".

In a statement on 18 February, the company said that while former Awami League MP for Dhaka 11 constituency, Wakil Uddin, served as managing director of the company for an extended period, Shamim Ara Begum, wife of the current MD BNP leader MA Quayum, was also actively involved with the company.

"During the previous fascist government, numerous false harassment cases were filed against Quayum, forcing him to leave the country due to threats to his life. He was not directly involved with the company during his time abroad," the statement states.

"Besides, there is no inconsistency in the operations of Swadesh Properties, nor is there any issue with ownership," it adds.

"The claims made [in the report] about former MP and freedom fighter Wakil Uddin are illogical, baseless, and fabricated. The report also contains incorrect information regarding his current shareholding in the company. Furthermore, the details provided about the other three directors of Swadesh Properties – Riasad Uddin and Farsad Uddin (both sons of Wakil Uddin) and Navid Tanvin Ananta (son of MA Qayyum) – are irrelevant and inaccurate," the statement reads.

"Additionally, the remarks made by the company's new director, Navid Tanvin Ananta, have been distorted. Since its inception, Swadesh Properties' two projects have been operating in full compliance with Rajdhani Unnayan Kartripakkha (Rajuk) regulations and private housing rules, with proper Rajuk registration. The information published regarding the company's shareholding is also false and baseless," it adds.

Our Reply

The published report is based on documents and information obtained from the Register of Joint Stock Companies (RJSC) and Rajuk, without any additional claims. The rejoinder states, "There is no issue with the ownership of this company." The report does not mention or suggest any ownership dispute.

RJSC documents indicate that since its inception in 2003, former MP Wakil Uddin has served as the company's MD. The name of BNP leader MA Qayyum's wife, Shamim Ara Begum, does not appear in any of the company's documents filed with the RJSC.

Following the government change on 5 August last year, documents filed with the RJSC on 1 September show that MA Quayum and his son Navid Tanvin Ananta were appointed as permanent directors. Additionally, 4.20 lakh shares belonging to one of the company's directors, Monir Hossain, were transferred to MA Quayum for Tk4.20 crore.

A subsequent RJSC filing on 1 October indicates that Wakil Uddin resigned as MD, with MA Quayum taking over the position. However, Wakil Uddin still holds 4.50 lakh shares in the company, while his two sons – Riasad Uddin and Farsad Uddin – collectively own 4.10 lakh shares.

TBS did not present any fabricated information regarding the legality of the company's Shorbali Housing Project in Khilkhet in the published report.

A notice issued on 31 December by Rajuk Sub-City Planner 1, Mustafizur Rahman, stated that the project violated the Real Estate Development and Management Act 2010 as well as the Natural Reservoir Conservation Act 2000. Rajuk told the company to halt landfilling activities through the encroachment of forest-prone areas under the Detailed Area Plan (DAP).

The Rajuk notice also warned that those involved in the project could face up to five years in jail and fines for violating these laws.

Wakil Uddin was elected MP from the Dhaka 11 constituency as an Awami League candidate in the 12th general election, held in January last year.

He is an accused in six cases filed with the International Crimes Tribunal, related to allegations of murder and genocide in the Rampura, Badda, Bhatara, and Uttara areas of the capital during the July-August mass uprising. Former prime minister Sheikh Hasina is also listed as the main accused in these cases, as confirmed by the Office of the Chief Prosecutor of the International Crimes Tribunal.

Furthermore, Wakil Uddin is accused in multiple murder cases – five filed with Badda Police Station, two each with Rampura, Bhatara, and Uttara police stations – all connected to the July-August incidents. These details have been confirmed by the respective officers-in-charge of these police stations.

Prior to the publication of this report on 17 February, the remarks from the Rajuk official concerned and the son of the company's current managing director MA Quayum were published without any alteration. The reporter possesses evidence of that.