Chattogram-based SA Group of Industries Chairman Md Shahabuddin Alam on Tuesday secured bail in two cases filed by state-owned Rupali Bank Ltd over defaulted loans.
Judge Mujahidur Rahman of the Chattogram Artha Rin Adalat granted the bail on condition accepting a petition submitted by the defence. The court also stayed an arrest warrant issued for Shahabuddin in the cases.
Confirming the matter, SA Group lawyer Sultan Mohammad Ohid said the court on Monday sentenced Shahabuddin Alam to five-month imprisonment in the cases and issued an arrest warrant against him.
Following a petition, the court passed a bail order staying the arrest warrant, he added.
