The Appellate Division on Monday deferred until January 15 hearing an appeal filed by S Alam Group chairman Mohammad Saifur Alam and his wife Farzana Parveen challenging a High Court order that directed the Anti-Corruption Commission to inquire into the reported money laundering and offshore investment allegation against the couple.
The Appellate Division also upheld its earlier status-quo over the probe order, unit it hears the matter on January 15.
A four-judge bench, chaired by Justice Borhanuddin, passed the order after the couple’s lawyer Ajmalul Hossain prayed for an adjournment of the rescheduled hearing for seven days as chief justice Obaidul Hassan was not present in court on Monday.
Ajmalul told the Appellate Division that the matter should be heard by the full court to determine if the High Court can pass the probe order on suo moto.
Lawyer Khurshid Alam Khan, who appeared for the Anti-Corruption Commission, did not oppose the prayer for adjournment.
The Appellate Division chamber judge M Enayetur Rahim on August 23, 2023 ordered maintenance of the ‘status quo’ until January 8, 2024 over the High Court order for probe into the reported offshore investment of Tk 11,000 crore by Saifur and his wife.
The chamber judge also set January 8, 2024 for hearing the couple’s appeal by full court.
The status-quo order barred the ACC, the Criminal Investigation Department and the Bangladesh Financial Intelligence Unit from holding their probes for two months, as the High Court directs the authorities.
The chamber judge passed the status-quo order after hearing a petition filed by the couple on August 21, 2023 for staying a suo motu High Court order asking for the probe into allegations of money laundering and offshore investment without permission against the couple.
The chamber judge earlier on September 15, 2023, refused to ban reports, remarks on offshore investment and money laundering allegations against Saiful Alam and his wife Farzana Parveen.
The judge, however, kept the couple’s petition in the record of their previous petition against a suo motu probe order by the High Court.
The couple filed the second petition seeking the ban on newspapers, especially New Age, The Daily Star and Prothom Alo, and individuals, including YouTuber and Supreme Court lawyer Syed Sayedul Haque Suman, from publishing such reports or remarks regarding money laundering allegation against the couple.
Earlier on December 4, 2022, the High Court asked the government agencies to hold inquiries into alleged irregularities in obtaining loans from three private banks — Islami Bank Limited, First Security Islami Bank Bangladesh Limited, and Social Islami Bank Bangladesh Limited — by S Alam Group.
The bench passed the suo motu order after taking cognisance of the four newspaper reports on the allegations of disbursement of loans to the company and others by the three profit-making banks.
New Age on November 30, 2022, published a report under the headline ‘S Alam Group lifts Tk 30,000cr loans from IBBL alone’.
The Daily Star’s report titled ‘TK 7,246 crore loans to 9 firms: BB probing breach of rules at Islami Bank’ was published on November 29, 2022.
Protham Alo on November 24, 2022, published a report under the headline ‘Islami Bank A Bhayangkar November’ (Terrible November in Islami Bank) while Business Standard’s report headlined ‘How a 24-year-old greenhorn blessed with a Tk 900cr loan’ was published on November 27, 2022.
High Court’s latest order on probe came on August 6, 2023 taking cognisance of a report titled ‘S Alam’s Aladdin’s lamp’ published in The Daily Star on August 4, 2023.
The High Court also asked 14 authorities concerned to explain in four weeks their failure and inaction in taking appropriate legal steps against entities and people who misappropriated and laundered a huge amount of money to Singapore, Cyprus and other countries.
The 14 authorities include the ACC chairman, secretaries of the ministries of finance, foreign affairs, law and home, the Bangladesh Bank governor, the BFIU chief, the National Board of Revenue chairman, the inspector general of police, the additional IGP of the Criminal Investigation Department, the Special Branch superintendent of police for immigration and the Dhaka deputy commissioner.
The High Court also set October 10, 2023 for passing further order on the suo motu rule.
New Age
