Nurjahan Group director Tipu Sultan arrested

Tipu Sultan, director of Chattogram-based consumer goods importer Nurjahan Group, was arrested from Gulshan in the capital on Thursday.

Khulshi police station of Chattogram city handed him over to the court Friday (30 September).

Confirming the matter to The Business Standard, Officer-in-Charge of Khulshi police station Santosh Kumar Chakma said, "There are 21 arrest warrants against the arrested Tipu Sultan for loan default and cheque frauds in various banks. After his arrest in Dhaka, he was sent to court this afternoon."

Earlier, the Money Loan Court in Chattogram issued an arrest warrant against the company's Zahir Ahmed and Tipu Sultan in a Tk268 crore loan default case.

Justice Mujahidur Rahman gave the order on 13 September in the case filed by the Southeast Bank Jubilee Road branch.

In 2020, Southeast Bank filed a case with the Money Loan Court in Chattogram against the Nurjahan Group high-ups to recover the loans.

On 16 September, the money loan court also ordered the seizure of passports of six top-brass of Nurjahan Group, including Tipu Sultan's, following an application by Southeast Bank.

On 11 August, a Chattogram court sentenced Jahir and Tipu to one year in prison following a case filed by Bangladesh Commerce Bank's Dewanhat branch over a Tk6 crore dishonoured cheque.

According to court sources, in 2012, the Dewanhat branch of Bangladesh Commerce Bank Ltd filed 10 cases regarding 10 cheques worth Tk60 crore against Marrin Vegetable Oils Ltd – a concern of Nurjahan Group.

The Chattogram-based Nurjahan Group is one of the giants in the consumer goods business including edible oil, wheat and spices. The group's business has shrunk amid rising debts over the past few years. Currently, the group has completely closed its business of importing consumer goods.