Confirming the matter, court assistant bench officer Md Ershad told The Business Standard that the court issued the warrants after finding no effective way to recover the outstanding loan amount.
S Alam Group Chairman Mohammed Saiful Alam. Photo: Collected
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S Alam Group Chairman Mohammed Saiful Alam. Photo: Collected
A Chattogram court today (21 May) issued five-month civil imprisonment warrants against S Alam Group Chairman Mohammad Saiful Alam and 10 of his family members and associates in connection with a defaulted loan worth Tk84.49 crore from Islami Bank Bangladesh PLC.
Chattogram Money Loan Court-1 Judge Md Helal Uddin passed the order after hearing a petition filed by the bank under the Money Loan Court Act, 2003.
Confirming the matter, court assistant bench officer Md Ershad told The Business Standard that the court issued the warrants after finding no effective way to recover the outstanding loan amount.
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