Arrest warrant issued against Nurjahan Group MD, chairman

The Money Loan Court in Chattogram has issued an arrest warrant against Nurjahan Group Managing Director Zahir Ahmed and Chairman Tipu Sultan in a Tk268 crore loan default case.

Justice Mujahidur Rahman gave the order Tuesday (13 September) in the case filed by the Jubilee Road branch of Southeast Bank.

In 2020, Southeast Bank filed the case with the Money Loan Court in Chattogram against the Nurjahan Group high-ups to recover the loans, said the court's bench assistant Rezaul Karim.

Following the lawsuit, the court issued summons against them at different times, but they did not appear in the court. As a result, the court issued an arrest warrant against them today, Rezaul added.

Chattogram-based Nurjahan Group is one of the giants of the consumer goods business. Even though it used to do business with dominance in consumer goods including edible oil, wheat, and spices, the business is not the same anymore. 

The group's business has been shrinking over the past few years, but its debt is rising. Out of this, the amount owed to the group by five banks has exceeded Tk2,500 crore. 

At present, the consumer goods import business of the group remained closed.