Court issued arrest warrant against four directors of Ratanpur Steel Re-Rolling Mills (RSRM) Limited for non-payment of Tk 188.26 lakh 53 thousand to Trust Bank. Judge Mujahidur Rahman of Chittagong Financial Debt Court gave this order after the hearing on Thursday (February 8). Peshkar of the court. Rezaul Karim confirmed this information.
RSRM is one of the top defaulters in the country, with defaulted loans amounting to around Tk 2.5 billion.
The four people under the arrest warrant are, Mizanur Rahman, Marzanur Rahman, Md. Alauddin and Maksudur Rahman.
According to court sources, the loan was taken from Trust Bank Chittagong CDA Avenue branch in the name of Modern Steel Mills Limited, a subsidiary of Ratanpur Steel Re-Rolling Mills (RSRM) Limited. On April 11 last year, the first assistant vice president of that branch Shah Md. Zaheed Hossain filed the case as the plaintiff. In the case, till March 31, 2023, the company’s defaulted loan amount is Tk 188 crore 26 lakh 53 thousand 307.
According to court sources, no immovable property is liable to the bank as collateral against the loan. The loan was disbursed on trust receipts and personal guarantees. The loan amount is scheduled to be restructured in 2015 and restructured in 2019. But the defendants did not pay the amount as per the rescheduled schedule. On July 16 last year, based on the bank’s application, the defendants were banned from leaving the country. On November 27, defendants Mizanur Rahman and Maksudur Rahman applied to the court for permission to go to Singapore for better treatment. However, the petitioners did not attend the court hearing on the scheduled date. On Thursday, the court did not grant the plea of the defendants to go abroad.
Peshkar of the debt court. Rezaul Karim said, ‘There are at least 10 cases going on against defendants Mizanur Rahman and Maksudur Rahman in Chittagong Finance Court. The amount of money demanded by various banks and financial institutions in the cases is about two and a half thousand crores.
