SC stays order to return confiscated money to businessmen

The Supreme Court has stayed the order to return Tk 615.55 crore confiscated from businesses and individuals by the army-backed caretaker government between 2007 and 2008.

An Appellate Division bench led by Chief Justice Syed Mahmud Hossain passed the order on Tuesday.   

Earlier on March 16, 2017, the Supreme Court upheld a High Court order asking the government to return Tk615.55cr.  

A four-member bench led by Chief Justice Surendra Kumar Sinha passed the verdict rejecting central bank appeals. 

The then caretaker government confiscated in total around Tk1,232cr from 40 organisations, companies and businessmen employing various means and in phases between April 2007 and November 2008. 

According to media reports, the business enterprises include Bashundhara Group, Sikder Group of Companies Limited, Jamuna Group, MGH group, Amin Mohammad Group, Sagufta Group, Hosaf Group, Partex Group, Swadesh Properties Limited, Islam Group, Concord Engineering Group, Kabir Steel, Ashiyan Group, Pink City, Bangladesh Ship Breaker’s Association, Arab Bangladesh Bank Foundation, Elite Paint, AB Bank Limited, Concord Real Estate and Unique Group. Money was also extracted from former BNP MP Kazi Salimul Haque Kamal, former state minister for Home Lutfuzzaman Babar, BNP Senior Vice-Chairman Tarique Rahman’s friend Giasuddin Al Mamun, Director of Unique Group, Nur Ali, and businessmen Rezaul Karim, Abu Sufiyan, Showkat Ali Chowdhury, Wakil Ahmed and Abdul Awal Mintoo.