Money loan court orders arrest of Elias Brothers owners
Chattogram Artha Rin Adalat (money loan court) has issued arrest warrants against five directors, including managing director Shamsul Alam of Elias Brothers Limited, in a case filed for defaulting on a bank loan.
Judge Mujahidur Rahman passed the order on Monday in the case the Khatunganj branch of National Bank Limited filed in 2012 for the recovery of a defaulted loan of over Tk183.3 crore from the conglomerate.
The four other defendants are Nurul Absar, chairman of Elias Brothers Edible Oil Refinery Unit-2, a sister concern of the group; Director Nurul Alam; Director Kamrun Nahar Begum, wife of Shamsul Alam; and Director Tahmina Begum, wife of Nurul Absar.
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The Chattogram-based industrial group now has a debt burden of around one thousand crore taka from a dozen of banks.
