Home
+
Published : 16 Feb 2026, 03:12 PM
A Dhaka court has discharged Transcom Group CEO Simeen Rahman and her mother Shahnaz Rahman along with four others from a case involving the alleged embezzlement of shares through forgery.
Chief Metropolitan Magistrate Md Mustafizur Rahman passed the order on Monday after concluding that the prosecution “failed” to provide sufficient grounds to frame charges against the suspects.
Shahnaz, the wife of the late Transcom founder Latifur Rahman, currently serves as the group's chairperson.
The other individuals cleared in the case are directors Kamrul Hasan, Md Mosaddek, Abu Yusuf Md Siddique, and Shamsuzzaman Patwary.
The defendants’ lawyer Abdullah Al Mamun confirmed the verdict.The suspects, who were previously on bail, appeared in court as Dhaka Metropolitan Public Prosecutor Omar Faruq Faruqi and the plaintiff's lawyer Masud Ahmed Talukdar argued for the framing of charges.
Senior lawyers Mohsin Mia, Khorshed Alam, and Khorshed Mia Alam represented the defence, successfully moving for the discharge of their clients.
In its order, the court said: “There is no evidence to frame charges against the suspects; they are discharged from liability in the case.”
The legal battle began on Feb 22, 2024, when Shazreh Huq, another daughter of Latifur and a director of the group, filed the case at Gulshan Police Station.
Following an investigation, PBI Inspector Syed Sajedur Rahman submitted a chargesheet on Jan 11, accusing the six individuals of orchestrating a fraudulent board meeting on Jun 13, 2020.
The investigation report claimed the meeting was intended to approve the transfer of 23,600 shares held by Latifur, assigning 14,160 shares to his eldest daughter Simeen, while splitting the remaining portion equally between his son Arshad Waliur Rahman and his youngest daughter Shazreh.
The chargesheet, however, alleged that Latifur was listed as being on leave during the meeting, and while Arshad’s signature appeared on the attendance sheet, he was reportedly in Cumilla at the time.
Shazreh maintained that no such board meeting took place and the investigation suggested that the defendants “failed” to produce relevant documents or evidence of meeting notices sent via email or post.
The PBI also noted irregularities in the filing of share transfers with the Registrar of Joint Stock Companies and Firms (RJSC), alleging that mandatory physical presence for signatures was ignored and that fees were paid late, violating Section 38 of the Companies Act 1994.
The prosecution alleged that Simeen used scanned signatures of her family members to create a "Family Deed of Settlement" and used two non-judicial stamps from 2023 backdated to 2020.
A report from the Deputy Commissioner’s office suggested that the vendor's licence for those stamps had been cancelled in December 2020, yet the stamps were supposedly supplied in March of that year.
Despite the claims in the chargesheet, the court found the evidence “insufficient” to proceed with a trial.
