SC to decide fate of money confiscated by caretaker govt

The Supreme Court on Wednesday set March 16 to deliver its decision on whether the Bangladesh Bank should return the money confiscated from businesses by the army-backed caretaker government. The interim army-backed government took power in January 2007 and arrested many well-known politicians and businessmen on graft allegations during their tenure that lasted two years. The government eventually confiscated around Tk1,232cr from 40 organisations, companies and businessmen between April 2007 and November 2008. A four-member bench led by Chief Justice Surendra Kumar Sinha set the date after hearing an appeal filed by Bangladesh Bank against previous High Court orders that ordered the money returned to the businessmen. In separate orders, the High Court in 2010 and 2011 had asked BB to return the money following petitions filed by the businessmen. The Bangladesh Bank then moved with the Appellate Division and the decision was stayed. The money was deposited to the state’s account at Bangladesh Bank through more than 200 pay orders. The first portion of the confiscated money was extracted from James Finlay Limited in April 2007. It gave Tk117.41cr in 16 pay orders to the government’s fund. It also deposited Tk120.24cr more in the next months through 15 pay orders. The government extracted money employing various means and in phases, from differnet businessmen. Around Tk47cr was deposited from ‘unknown’ sources. 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 Chowchury, Wakil Ahmed, Abdul Awal Mintu.