Sonali Bank takes Hall-Mark to court

Sonali Bank has moved the court to realise around Tk 220 million from three companies of the Hall-Mark Group, which is embroiled in one of the country's worst-ever financial scam.

The state-owned bank’s Ruposhi Bangla corporate branch official Abdus Salam filed the cases at Dhaka’s Money Loan Court-1 on Thursday.

The companies sued are Hall-Mark Packaging Ltd, Hall-Mark Style Ltd and Hall-Mark Accessories Ltd.

Sonali Bank lawyer Hosne Ara Begum told bdnews24.com that judge Md Robiuzzman fixed May 4 to know whether the respondents received summons from the court.

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Hall-Mark Group Managing Director Tanvir Mahmud is now in jail for his involvement in the scam.

His wife and group Chairman Jesmine Islam was also arrested but later released on bail.

According to the case details, the three Hall-Mark companies had received Tk 210,710,022 in loan from Sonali Bank two years ago, but they did not pay it back.

Sonali Bank has already sued six Hall-Mark companies for realising its dues - besides the three taken to court now.

Those sued earlier are Hall-Mark Denim Composite, Hall-Mark Knit Composite, Jisan Knit Composite, Farhan Fashion, Perfect Embroidery and Hall-Mark Knitting and Dying.

The nine companies owe Tk 596.5 million to Sonali Bank.

Ruposhi Bangla branch Deputy General Manager Abul Hashem told bdnews24.com five more Hall-Mark group companies would be taken to court.

He said the cases had been filed after a decision in the Sonali Bank Board of Directors.

Hashem said before filing cases against the companies, the bank auctioned the assets vested with it as collateral but the efforts went futile.

Hall Mark Group had laundered over Tk 29.6 billion from the state-owned bank by forging Letters of Credit (LC).