Embezzling Tk 268cr: Arrest warrant issued against Nurjahan group MD
A Chattogram court today (September 13, 2022) issued arrest warrants against the managing director of Nurjahan group and his brother in a case filed over embezzling Tk 268 crore from Southeast Bank Limited Jubilee Road branch.
Chattogram Money Loan Court Magistrate Mujahidur Rahman issued the order asking the local police station to arrest the accused and produce them before it, reports our Chattogram staff correspondent.
The accused are Nurjahan group MD Zahir Ahmed Ratan, and his brother Tipu Sultan.
Bench Assistant of the Court Rezaul Karim told The Daily Star, "Nurjahan Group took Tk 268 crore in loans from the bank but did not repay the loan despite several notices issued by the bank authorities. Today, the Money Loan Court gave an order in favour of the bank and instructed the local police station to arrest the accused and produce them in court."
According to the Chattogram Money Loan Court, in 2020 the bank authorities moved to the Chattogram Money Loan Court seeking loan recovery from the Nurjahan group.
Nurjahan group now has a debt burden of Tk 500 crores from a dozen banks. Almost all of its loans are now in default.
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