SC adjourns hearing on probe into S Alam Group’s assets abroad

The Supreme Court's Appellate Division has revoked the High Court's suo moto (voluntary) rule, which questioned the respondents' "inaction and failure" to take appropriate legal action against the owner of S Alam Group for allegedly accumulating significant amounts of property abroad without the Bangladesh Bank's consent.

The Anti-Corruption Commission (ACC) and the Bangladesh Financial Intelligence Unit (BFIU) may, however, take independent legal action over the issue, the highest court declared.

A six-member bench of the Appellate Division headed by Chief Justice Obaidul Hassan delivered the verdict on Monday.

The apex court held hearing on a leave to appeal petition challenging the HC order and rule that asked the authorities to probe the reported allegations against the owner of S Alam Group.

The five other judges of the bench include Justice Borhanuddin, Justice M Enayetur Rahim, Justice Md Ashfaqul Islam, Justice Md Abu Zafor Siddique and Justice Jahangir Hossain Selim.