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A Chattogram court on Sunday ordered the authorities concerned to take steps for repatriating Chattogram-based Imam Group’s owner Mohammad Ali from Dubai – for allegedly defaulting on loans amounting to Tk 1,500 crore.
Judge Mujahidur Rahman of the Chattogram Artha Rin Adalat passed the order following a petition submitted by state-owned Sonali Bank Ltd, in a case filed over defaulting around Tk 185 crore.
Confirming the matter, the court’s Bench Assistant Rezaul Karim told The Business Post that the bank’s managing director has been ordered to take the necessary steps to bring back Ali from Dubai with the help of the inspector general of police and foreign ministry.
Insiders say Ali was a member of the National Credit and Commerce (NCC) Bank Ltd Board of Directors.
Using this position, he took loans from various banks. Since his share fell below 2 per cent in the NCC Bank and he became a loan defaulter, Ali had been removed from the NCC Board of Directors.
According to Sonali Bank’s case statement, Ali owed various banks around Tk 1,500 crore.
Previously, the Chattogram Artha Rin Adalat ordered the authorities concerned to seize the passports of Mohammad Ali, his wife Jebunnesa Akter, and their son Ali Imam in a case filed over defaulted loans of over Tk 61 crore by the IFIC bank.
Although his parents had left the country, Ali Imam filed a writ against this order with the apex court. The High Court upheld the Artha Rin Adalat’s order that imposed a ban on loan defaulters to leave the country.
In its observation, the High Court said banks give loans from the deposits of people. Considering the facts and circumstances, the Artha Rin Adalat can impose a ban on defaulters from leaving the country to protect the public interest, it said.
