Court orders to seize land of Habib Steel in default case

CHATTOGRAM, Sept 15: A court here ordered to seize 280 decimal lands of Habib Steel, a concern of Habib Group, in a loan default case of Tk 909.8 million.

Judge Mujahidur Rahman of Chattogram Financial Debt Court (CFDC) passed the order on Wednesday in a case filed by Eastern Bank.

Agrabad branch of Eastern Bank filed a case on June 5 to realise Tk 909.8 million default loan from Habib Steel accusing the owners Abdul Kader, Yasin Ali and Yaqub Ali, court official said.

"The court ordered the seizure of 280 decimal lands of Habib Steel at Jahanabad area under Sitakund upazila in Chattogram," he added.

Earlier, the Chattogram Metropolitan Magistrate (Sixth) Court issued an arrest warrant against 5 owners including the chairman of Habib Group on August 8 in a case filed by IDLC Finance Limited.

This arrest warrant was issued against its Chairman Yaqub Ali, Managing Director Salman Habib and three directors of a textile mills of the group Yasin Ali, Mashrup Habib, Tanveer Habib, in three cases of check fraud of Tk 18 million.

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