Ctg businessman tries to flee without repaying Tk100cr loans

Strong points

  • Jahangir has businesses in various sectors including housing, automotive bricks
  • He owes Tk 50 crore to Al Arafah Islami Bank
  • Owes Tk 6 crore to National Bank, Tk 7.5 crore to Social Islami Bank
  • Sold shops and apartments in its newly built market
  • Would have embezzled money without handing over apartments, shops

Md Jahangir Alam, a businessman from Chattogram, was arrested by immigration police at Shah Amanat International Airport on Friday after he attempted to flee the country without repaying around Tk 100 crore in loans.

His escape attempt was foiled and he was handed over to a local police station.

Jahangir, managing director of Super Property Development, had already received warrants in 11 of the 13 cases filed against him by three banks.

He owes a total of Tk 100 crore to different banks and many businessmen in the region – Tk 50 crore to the Hathazari branch of Al Arafah Islami Bank, Tk 6 crore to the National Bank and 7, 5 crores of Tk to Social Islami Bank.

The officer in charge of the Hathazari police station, Md Rafikul Islam, said: “The immigration police at Chattogram airport arrested Jahangir Alam on Friday and handed him over to us.

“On Saturday, we sent him back to court for several cases filed against him by various banks. However, the court granted him bail after hearing a request for bail,” he added.

According to the banks, businessman Jahangir has a long history of doing business in various sectors, including housing and automotive bricks. He took out loans from different banks at different times to do business in real estate and automobile bricks. But without repaying bank loans, he bought land and lived a luxurious life.

Due to non-payment of bank loans for a long period, the three banks filed 13 cases under the Artha Rin Adalat Ain and Negotiable Instruments (NI) law.

He also sold shops and apartments in his newly built market in the Hathazari area, but many buyers accused Jahangir of embezzling money without handing over the apartments and shops.

Hathazari branch manager of Al Arafah Islami Bank, Md Salamat Ullah said: “Diamond Super Auto Brick, Super City and Kashem Trading owed us Tk 50 crore. period, we filed eight complaints against the owner Md Jahangir under the NI He was justified in business.

“We informed the immigration police of the cases against him so that he could not flee the country. In this context, the immigration police arrested the businessman.”

National Bank Hathazari branch manager Sheikh Mohammad Firozur Rahman said Jahangir Alam took a loan from the bank on behalf of Kashem Trading. Although he took the money to do business, he mostly bought land with it. So the bank sued him under the NI law.

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