Status quo on inquiry into allegations against S Alam Group
Staff Reporter :
The Appellate Division of the Supreme Court on Wednesday ordered to maintain till January 8 in 2024 the status quo upon the subject matter of a High Court order that asked the authorities concerned to conduct inquiry into the allegations against S Alam Group owner Mohammad Saiful Alam regarding the transfer and investment of huge amount of money abroad without permission from the Bangladesh Bank.
Justice M Enayetur Rahim, Chamber Judge of the Appellate Division, passed the order after hearing a petition filed by the S Alam Group seeking a stay on the High Court order.
The Chamber Judge also send the matter to the regular Appellate Division Bench for detailed hearing on it on that day.
Lawyers Ajmalul Hossain, Ahsanul Karim, Sayed Ahmed Raza and other appeared in the court hearing on behalf of the S Alam Group, while lawyer Khurshid represented the Anti-Corruption Commission (ACC).
During the hearing the Chamber Judge wanted to know what the problem was if an inquiry held into the allegations against S Alam Group.
The court said, “What is the problem if an inquiry takes place? Where is the mistake of the court (High Court)? The High Court was satisfied and issued an order.”
In reply S Alam Group lawyer Ajmalul Hossain said, “Order has been passed to inquire against me (S Alam Group), however, the court didn’t hear me or I am not a party in the case.
” Ahsanul Karim, another lawyer for the business group, said, “The High Court passed an interim direction without justifying its rule. This is contrary to the guidelines for issuing the Suo Motu order.”
Lawyer Khurshid Alam Khan representing the Anti-Corruption Commission opposed the petition filed by the S Alam Group.
Earlier on August 21, Mohammad Saiful Alam and his wife Farzana Parveen submitted a petition to the Appellate Division seeking stay on the High Court order.
On August 6, the High Court directed the authorities concerned to conduct inquiry into the allegations against S Alam Group regarding the transfer and investment of huge amount of money abroad without permission from the Bangladesh Bank.
The Anti-Corruption Commission, the Bangladesh Financial Intelligent Unit (BFIU) and the Criminal Investigation Department (CID) of Police were asked to comply with the direction. The organisations were asked to submit inquiry report to the HC within two months.
The High Court Bench of Justice Md Nazrul Islam Talukder and Justice Khizir Hayat passed the order on a Suo motu (on its own motion) move after considering a report published in an English daily on August 4 under the headline “S Alam’s Aladdin’s Lamp”.
The court also issued a rule asking the authorities concerned of the government to explain as to why their failure and inaction to prevent the alleged activities of the S Alam Group owner should not be declared illegal.
It also wanted to know in the rule as to why a direction should not be given to take action against the persons involved with the allegations.
Supreme Court lawyer Syed Sayedul Haque Suman placed the newspaper report before the HC Bench seeking necessary directives.
According to the published report, S Alam Group owner Saiful Alam has built a business empire in Singapore worth at least about $1 billion, although there is no record of him taking any permission from Bangladesh Bank to invest or transfer any funds abroad.
The Bangladesh central bank has so far allowed 17 companies to invest outside the country, and this Chattogram-based business giant is not on that list.
