CHATTOGRAM, Sept 14: A court here has issued an arrest warrant against two owners of Nurjahan Group in a loan default case of Tk 2.68 billion.
Judge Mujahidur Rahman of Chattogram Financial Debt Court issued the warrants on Tuesday in the case filed by the Jubilee Road branch of South East Bank.
The owners are Chairman of the group Tipu Sultan and its Managing Director Zaheer Ahmed.
South East Bank filed a case with the Financial Debt Court against them to realise a debt of Tk 2.68 billion in 2020, said an official of the court.
"The court issued summons against them several times, but they did not appear in court," he said adding that the court finally issued the arrest warrant against them on Tuesday.
The Chittagong-based Nurjahan Group was one of the giants of the consumer goods business.
The group imported and traded consumer goods including edible oil, wheat and spices for a long time.
But the group's business has been shrinking over the past few years and its debt has kept rising.
Out of this, the amount owed to the group by five banks has exceeded Tk 25 billion.
At present the consumer goods import business of the group has completely been closed.
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