Four employees of H Kabir & Company were also detained during Saturday's raid jointly conducted by RAB-7, the narcotics control directorate, district administration and customs department.
Elite police unit RAB official Maj Md Jahangir Alam said one Dildar Hossain owns the company which was used as a bar.
"The company does not have permission to either import liquor or run a bar and hence, it's illegal," he said.
Alam said they had seized about 39,000 cans of beer and over 4,000 bottles of foreign alcohol.
The narcotics control directorate took custody of the seized liquor and they would file a case over the incident, he said
Alam said four employees of the bar and two drivers, who came to buy alcohol, had been detained.
The RAB officer said they were trying to contact the KEPZ authorities to learn how an unapproved bar was being run there.
When approached, KEPZ General Manager Khurshid Alam declined to comment on the matter.