Court orders seizure of passports of 6 Nurjahan Group owners

The Artha Rin Adalat in Chattogram has ordered the passports of six owners of the Nurjahan Group to be seized in a case filed for defaulting on bank loans.

Judge Mujahidur Rahman gave the order on Thursday following a Southeast Bank appeal seeking court directives for measures necessary to prevent the defaulters from leaving the country.

The court also directed the special superintendent of police (immigration), to submit a report by 29 September on whether the accused have already left the country, said court assistant Rezaul Karim.

The accused are Zahir Ahmed, managing director of the Group's subsidiaries Jasmir Super Oil Ltd and Tasmin Properties Ltd; Tasmin Monowar Prakash, director of Jasmir Super Oil Ltd and managing director of Nurjahan Super Oil Ltd; Tipu Sultan, chairman of Jasmir Super Oil Ltd and director of Marine Vegetable Oils Ltd; Jasim Uddin, chairman of Nurjahan Super Oil Ltd and director of Jasmir Super Oil Ltd; Farhad Manwar and Iftekhar Al-Jaber, directors of Jasmir Super Oil Ltd.

The Jubilee Road branch of Southeast Bank filed the appeal with the money loan court last Wednesday stating that the accused have been absconding since an arrest warrant was issued for them.

Earlier on 13 September, the same court issued an arrest warrant for Nurjahan Group Managing Director Zahir Ahmed, and Chairman Tipu Sultan.

Chattogram-based Nurjahan Group was one of the giants in the market of consumer goods for edible oil, wheat, and spices. However, the business is not the same anymore. 

The group's business has been shrinking over the past few years, and its debts are rising. The amount owed by the group to five banks has exceeded Tk2,500 crore. 

At present, the consumer goods import business of the group remains closed.