Court summons S Alam, family members

A Chattogram court has (1 December) issued summons against 10 people including S Alam Group Chairman Md Saiful Alam, his wife, and his five siblings in a loan default case.

Chattogram Money Loan Court Judge Mujahidur Rahman passed the order on Sunday.

Janata Bank filed the case against the conglomerate's Global Trading Corporation for defaulting on Tk1,963 crore.

The court has also ordered an embargo on the transfer of 4.96 crore shares of First Security Islami Bank held by Saiful Alam and 2.46 crore shares of Al Arafah Islami Bank held by his brother Abdus Samad, he said.

The court has further ordered the two brothers to show cause why these shares should not be croaked, he added.

Md Saiful Alam, his wife Farzana Parvin, his brothers Mohammad Rashedul Alam, Md Abdullah Hasan, Abdus Samad (Labu), Osman Gani, Md Shahidul Alam, his brother's wife Shahana Ferdous, Global Trading Corporation Chairman Mohammad Abdus Sabur and Director Mishkat Ahmed were made defendants in the case.

In addition to Global Trading Corporation, 13 other institutions of the S Alam Group were also made defendants in the case.