Court orders to confiscate Habib Group assets for defaulting Tk91cr in loans
A Chattogram court has ordered to confiscate properties of Habib Group, an industrial company in Chattogram, in a case filed by Eastern Bank for defaulting payment of Tk91 crore in loans.
Chattogram Money Loan Court Judge Mujahidur Rahman gave the order on Wednesday.
According to court sources, Habib Steel Ltd owes Tk91 crore to Eastern Bank's Agrabad branch. So, Eastern Bank filed a case (303/2022) against Habib Group at the Money Loan Court of Chattogram on 5 June this year.
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The proprietors of the company – Md Abdul Quader, Yasin Ali and Yakub Ali were made accused in the case.
Rezaul Karim, assistant of the Money Loan Court bench, said that in view of the petition of the plaintiff in the case, the judge ordered to seize 280 Satak (1 Satak = 435.6sq ft) of land owned by Habib Steel in the Jahanabad area of Sitakunda.
Earlier on 8 August, the Chattogram Metropolitan Magistrate (Sixth Court) issued an arrest warrant against five people, including the chairman of Habib Group, in a case filed by another financial institution.
This arrest warrant has been issued against – Regent Textile Mills Limited Chairman Yakub Ali, Managing Director Salman Habib and three directors Yasin Ali, Mashrup Habib, and Tanveer Habib – in three cases filed by IDLC Finance Limited for cheque fraud of Tk180 lakh.
Regent Textile Mills Limited is a company of Habib Group.
