MTB secures court orders against five loan defaulters for Tk192cr
MTB had pursued multiple legal channels, including criminal and Artha Rin suits, after repeated irregularities in loan repayment
Mutual Trust Bank PLC (MTB) has obtained court orders placing travel restrictions and mandating the seizure of passports for five individuals connected to three defaulted loan accounts, with a combined outstanding amount of Tk192.13 crore.
The legal actions, issued by courts in Dhaka and Chattogram, aim to ensure that the defaulters remain within the country to face recovery proceedings. MTB filed urgent petitions under the Money Loan Court Act as part of its ongoing efforts to enforce repayment and maintain financial discipline.
In Chattogram, the Money Loan Court on 3 November ordered a travel ban and passport seizure against Md Nur Nabi, proprietor of M/s Akter Enterprise and Meghna Corporation, in connection with a default of Tk130.35 crore. The court has also mandated his personal appearance at upcoming hearings.
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In Dhaka, three officials of City Dental College and City General and Dental Hospital Ltd, named ASM Badruddoza, Akashlynn Badruddoza Dithi, and Meghdeep Badruddoza, were placed under travel restrictions following a court order issued on 7 September.
These measures relate to a defaulted amount of Tk39 crore on commercial credit facilities obtained from MTB's Kakrail Branch.
Earlier, on 16 April, the Dhaka Metropolitan Magistrate Court imposed a travel ban and passport seizure on Md Shaheen Molla, linked to the defaulted account of Shaheen General Store, involving Tk22.77 crore.
MTB had pursued multiple legal channels, including criminal and Artha Rin suits, after repeated irregularities in loan repayment.
A spokesperson for Mutual Trust Bank PLC said, "These judicial outcomes validate our robust risk management framework and our commitment to corporate governance. MTB is determined to utilise all legal avenues to recover classified assets, protecting stakeholder interests and supporting financial sector discipline."
