HC orders ACC to report on S Alam Group’s asset transfer
Staff Correspondent
The High Court has directed the Anti-Corruption Commission, or ACC, to submit a report on the transfer or sale of assets owned by Chattogram-based conglomerate S Alam Group.
The order came from a bench comprising Justice Md Kamrul Hossain Mollah and Justice Kazi Zinat Hoque on Sunday, following a writ petition calling for an injunction to stop the group’s asset transfers.
The petition, filed by Supreme Court lawyer Md Rukunuzzaman on Wednesday, also requests the submission of a complete list of all immovable assets owned by the Chattogram-based conglomerate, its shareholder directors, and their family members.
Advocate Shaheen Ahmed, who represented the ACC at the hearing, told bdnews24.com that after the petitioner’s argument, the court wanted to hear from the ACC.
"We informed the court that the ACC is currently investigating the matter. The court then inquired about the progress of the investigation," said Shaheen.
"We pleaded for a week to provide the report, and the court has scheduled the next hearing for Sunday."
The petition also called for an inquiry into the group's total loans from banks, the current status of those loans, any funds laundered abroad, and a court order to freeze all immovable assets.
In addition, the petition requests a travel ban on the company’s directors and their family members without court permission.
