HC seeks list of S Alam Group’s immoveable properties

The High Court today directed the government to submit a list of all immoveable properties owned by S Alam Group, its shareholder directors and their family members – before this court.
The law secretary and inspector general of registration have asked to execute the order.
The HC bench of Justice Md Kamrul Hossain Mollah and Justice Kazi Zinat Hoque issued the order following a writ petition filed by Supreme Court lawyer Md Rukunuzzaman.
The writ petition sought the HC order on the authorities concerned to attach all immoveable properties owned by S Alam Group, its shareholder directors and their family members and to impose restrictions on transfer or sell of those properties.
Barrister Rukunuzzaman submitted the petition as a public interest litigation on September 17, which also sought the court’s directive upon Bangladesh Bank to provide information regarding total credit facilities availed by S Alam Group, its shareholder directors and other business concerns from the financial institutions or banks and the present status of outstanding liabilities and to bring laundered money back to Bangladesh from abroad.
The petition urged the HC to ask the Anti-Corruption Commission to hold an enquiry into the allegations of siphoning huge amount of money to foreign countries by S Alam Group and its associated companies.
The lawyer also requested the court to direct the Bangladesh Securities and Exchange Commission (BSEC) to impose restrictions on transferring or handover shares of S Alam Group, its shareholder directors and their family members.
Lawyer Rukunuzzaman, in the petition, said that S Alam Group has reportedly laundered a huge amount of money availed from the financial institutions from Bangladesh to Singapore, Cyprus and other foreign countries using various unethical mechanisms and massive irregularities.
Hence it has become necessary to take immediate appropriate steps by the authorities concerned to bring or repatriate the fund to Bangladesh for the best interest of the country, the lawyer said.