HC seeks list of S Alam Group's immovable properties

The High Court on Sunday directed the concerned bodies of the government to submit a list of all immoveable properties owned by S Alam Group, its shareholder directors and their family members to the court.
The law secretary and inspector general of registration have asked to comply with the High Court order.
The High Court bench of Justice Md Kamrul Hossain Mollah and Justice Kazi Zinat Hoque passed the order after primary hearing of a writ petition.
Earlier on September 17, Barrister Md Rukunuzzaman, a Supreme Court lawyer, filed the writ petition seeking HC directives on the authorities concerned to prepare a list of all immoveable properties owned by S Alam Group, its shareholder directors and their family members.
The petition filed as a public interest litigation also requested the court to attach all those properties and to impose restrictions on transfer or sale of those.
During the hearing on the petition on September 22, Anti-Corruption Commission (ACC) lawyer Shaheen Ahmed informed the court that the anti-graft body has already started its inquiry into the money laundering allegations those have been surfaced against S Alam Group.
He prayed to the court to grant more time so that he can produce the information about the inquiries. Considering his prayer, the HC bench on that day ordered the ACC to inform whether it has taken any step to probe into money laundering allegations against S Alam Group.
The court asked the Anti-Corruption Commission lawyer Shaheen Ahmed to place the update information before it on September 29. Accordingly the petition came on Sunday for hearing.
In the writ petition, the lawyer also prayed to the court to direct Bangladesh Bank to provide information regarding total credit facilities availed by S Alam Group, its shareholder directors and other business concerns from financial institutions or banks, along with information on the present status of outstanding liabilities.
The lawyer also requested the court to direct the Bangladesh Securities and Exchange Commission (BSEC) to impose restrictions on transferring or handing over shares belonging to S Alam Group, its shareholder directors and their family members.
Lawyer Rukunuzzaman said in the petition that S Alam Group has reportedly laundered a huge amount of money availed from the financial institutions of Bangladesh to Singapore, Cyprus and other foreign countries using various unethical mechanisms and massive irregularities.
Therefore, it has become necessary to take immediate appropriate steps by the authorities concerned to bring back or repatriate the funds to Bangladesh for the best interest of the country.

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