Mintoo’s business entities owe banks Tk 2.29 billion

The 14 business entities in which BNP-backed Dhaka North City Corporation mayoral aspirant Abdul Awal Mintoo has stakes owe banks and other financial institutions Tk 2.29 billion.

The advisor to the BNP chairperson has made the declaration to the Election Commission.

Multimode Group CEO and former FBCCI president Mintoo’s son submitted nomination for him on Sunday.

Declarations suggest Mintoo is ahead of his pro-Awami League contestant Annisul Huq, also a former FBCCI chief, in term of assets and debts values.

A court order requires candidates in all local government elections to submit seven types of information including their income, debts, educational qualification and cases against them.

The order provides for making the declarations public by the commission.

According to Mintoo’s declaration, he does not solely own any house or apartment but he shares their ownership.

An MSc, Mintoo has holdings in 14 business entities.

His other debts stand at around Tk 60 million and he has an yearly income of Tk 51.8 million.

Of the income, Tk 35 million comes from agriculture, Tk 940,000 from house and apartment rent, Tk 9.3 million as remuneration from business entities, Tk 2.43 million from shares, Tk 272,000 from teaching and consultancy, and Tk 3.84 million from other sources.

He said he held moveable assets worth Tk 539.6 million and his wife Tk 43.4 million.

Mintoo owns agriculture and non-farm lands valued at Tk 45 million and his wife Tk 5 million.

According to the declaration, he is accused in 13 cases. He is on bail in five of the cases and others are pending at courts.

Mintoo was acquitted in two other cases and had one stayed by the High Court.

His son Tabith Mohammed Awal has submitted nomination for himself too.

Many believe Awal will contest the election if his father’s candidature is voided.

Deputy CEO of Multimode Group, Tabith Awal is not linked to any political party. He is involved with 17 business entities.

He said his annual income was Tk 12.5 million.

He holds bonds and shares worth Tk 148.1 million and other assets valued at Tk 152.5 million.