SC: Return confiscated money to businessmen

The Supreme Court has upheld a High Court order asking the government to return Tk615.55cr confiscated from businesses and individuals by the army-backed caretaker government between 2007 and 2008. A four-member bench led by Chief Justice Surendra Kumar Sinha passed the verdict on Thursday 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. “Sixteen companies and two individuals filed 11 writs seeking return of their money amounting to Tk615.55cr,” said Ahsanul Karim, one of the lawyers standing in favour of the writs. “In separate orders, the High Court in 2010 and 2013 had asked Bangladesh Bank to return the money following petitions filed by the businessmen,” he added. The Bangladesh Bank then moved with the Appellate Division and the decision was stayed. After completing hearing on the appeals, the Appellate Division on Wednesday fixed March 16 for the judgment. “The government will now decide on whether to file a review and other necessary steps,” Bangladesh Bank lawyer M Amirul Islam told the Dhaka Tribune. 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, Abdul Awal Mintoo.