S Alam, 10 others face 5-month civil jail warrants

CHATTOGRAM, May 21: A Chattogram court has issued five-month civil imprisonment warrants against S Alam Group Chairman Mohammed Saiful Alam Masud and 10 of his family members and associates over Tk 0.8449 billion Islami Bank default loan.
The order was passed on Thursday by Judge Md Helal Uddin of Artha Rin Adalat-1, Chattogram, court officials confirmed.
According to the court, the loan was taken from the bank's Khatunganj Corporate branch and remained unpaid despite legal proceedings for recovery.
In its petition, the bank said no mortgaged immovable property had been kept against the loan.
It also said no movable or immovable assets belonging to the defendants could be traced even after a decree was issued in the case.
As no effective alternative remained for loan recovery, the bank sought civil imprisonment of the defendants under Section 34 of the Artha Rin Adalat Act 2003.
Following hearings and a review of documents, the court issued the warrants.
Those named in the order are Gufranul Alam, chairman of OG Travels Ltd; Hakim Ali, managing director of OG Travels Ltd; Mohammed Saiful Alam Masud, S Alam Group chairman; Osman Gani; Md Rashedul Alam; Farzana Begum; Abdus Samad; Mohammad Abdullah Hasan; Shahidul Alam; Farzana Parveen; and Ahsanul Alam.
The court documents listed their current address as S Alam House in the Sugandha Residential Area under Panchlaish Police Station in Chattogram.
The application and affidavit on behalf of the bank were submitted by Mohammad Didarul Alam Majumdar, senior principal officer of Islami Bank's Khatunganj Corporate branch.
Advocate Rakibul Anwar represented the bank during the proceedings.
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