Chairman, 5 directors of SASM barred from leaving country

The Chattogram Money Loan Court has banned the chairman, managing director and three directors of Shitalpur Auto Steel Mills Ltd (SASM) of Sitakunda from leaving the country in a loan default case filed by One Bank’s Agrabad branch.

The company has defaulted approximately Tk 234.54 crore loans.

According to court sources, on April 13, the bank filed the case against five officials of SASM. The bank also submitted an application seeking immigration ban on the defaulters.

Judge Mujahidur Rahman of the money loan court issued a show-cause notice to the defaulters as to why they should not be barred from leaving the country due to the bank’s case. The notice issued on Tuesday, ordered them to appear before the court with their passports on May 31.