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Sunday, 14 July 2024
Govt to back Badsha Group chief from Canada who defaulted Tk 500 cr

Govt to back Badsha Group chief from Canada who defaulted Tk 500 cr

Staff Correspondent

The government has taken initiative to implement the court order to bring back the defaulter Icha Badsha (Mohsin), the leader of Chittagong-based industrial company Badsha Group, back to the country from Canada.

On September 10, the Ministry of Home Affairs issued a letter requesting the Ministry of External Affairs to take necessary measures to bring him back.

It is said in the letter that this loan defaulter will be brought back to the country to implement the judgment of the Chittagong Financial Debt Court.

Earlier, on May 9 this year, the Chittagong Financial Debt Court ordered Mohsin, the leader of Messrs. Icha and Mucha Brothers, to be brought back to the country. Businessman Icha Badsha has not repaid the Tk 200 crore loan taken from Jubilee Road branch of One Bank in Chittagong.

The court learned that he is currently in Canada. The court ordered the finance ministry, the secretary of the home ministry and the governor of Bangladesh Bank to bring this businessman back to the country from Canada to recover the defaulted debt.

According to the information of the Chittagong Financial Debt Court, the judge mentioned in the order-Shahjalal Islami Bank, Eastern Bank, Mercantile Bank, Exim Bank and various banks and financial institutions have cases against Icha Badsha in this court. In these cases, the default amount is more than 500 crore rupees.

The businessman and his family never appeared in the case of these banks; He did not give the power of attorney.

The order said, 'The judicial proceedings against the money laundering debtors are not succeeding as they are absconding abroad. Important working hours of the court are wasted behind these cases. Due to which the caseload is increasing. In this situation, it is necessary to take necessary legal measures to bring the debtors living abroad back to the country in order to succeed in the judicial proceedings for recovery of defaulted debts.'

It may be noted that Chittagong's Banedi Industrial Company was famous for Tala Marka soap of Badsha Group. The two sons of Badshah Saudagar, the owner of the group, later expanded the business into consumer goods, ship breaking and dairy sectors.

Despite getting a loan easily due to his father's reputation, in 2018 Mohammad Isa Badsha, the leader of the company, moved to Canada with his family with 500 crore rupees from eight banks.

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