Loan scam: SC orders businessman to return Tk 25cr to Basic Bank

The Supreme Court has directed a businessman to return Tk 25 crore to Basic Bank within two months or face cancellation of his bail in a case filed against him over loan scam.

Chamber judge of the Appellate Division of the SC Justice Hasan Foez Siddique passed the order yesterday following a leave-to-appeal petition filed by the Anti-Corruption Commission (ACC) challenging a High Court order that granted bail to Syed Mozaffar Hossain, a businessman, in the case.

Justice Hasan Foez Siddique also sent the leave-to-appeal petition to the full bench of the Appellate Division for its hearing on July 15, ACC’s lawyer Khurshid Alam Khan told The Daily Star.

He said if Mozaffar, director of a private company IG Navigation Ltd, does not deposit Tk 25 crore to Basic Bank in two months, his bail in the case will be automatically cancelled.

ACC filed the case with Double Mooring Police Station in Chittagong on January 10 this year against Mozaffar and two others over misappropriation of Tk 63 crore as loan from the bank.

Following a bail petition filed by Mozaffar, the HC on April 4 this year granted bail to him in the case.

The ACC recently filed a leave-to-appeal petition with the SC challenging the HC order of bail, Advocate Khurshid Alam Khan added.