Abdul Monem Group sugar manipulation, bank accounts seized

Manipulation of consumer goods has become a daily occurrence in the country. This time M/s Abdul Monem Sugar Refinery Limited of Abdul Monem, one of the country’s industrial groups, has been caught in the process of manipulating sugar. The company illegally removed around 5 lakh tonnes of sugar brought into the bond facility in two phases. It has caused a loss of more than thousands of crores of government revenue. Despite that, they are reluctant to pay the government dues. Although it is supposed to be paid in installments, the Dhaka South Bond Commissionerate is unable to collect Tk 674 crore somehow. As a last step, all bank accounts of Abdul Monem Sugar Refinery have been seized. This information is known from the sources of Bond Commissionerate.

According to sources, the private sector controls about 90 percent of the country’s sugar market. M/s Abdul Monem Sugar Refinery Limited is one of the companies in this sector. The company brought sugar in the bonded facility and sold it illegally in the open market, which is misuse of the bonded facility. In the first phase, the institution under the jurisdiction of Dhaka South Bond Commissionerate has 3 lakh 29 thousand 919 tons of sugar warehouse.

by illegally removing from, the evidence of which was found by the Bond Commissionerate. Initially, a case was filed. According to the verdict, the amount due to the company is Tk 612 crore 23 lakh 17 thousand 444 including fine. A letter has been given to freeze the company’s import and export operations as well as bank accounts to collect the dues.

ASM Mainuddin Monem’s mobile phone was repeatedly called to find out about this; But he didn’t answer the phone. Later, a small message was sent mentioning the misuse of the bond, but no response was received.

It is known that Abdul Monem Sugar Refinery located in Narayanganj got involved in irregularities after passing the first stage of irregularities. The company illegally removed another 1 lakh 94 thousand 830 tonnes of sugar in the second phase. Bond Commissionerate filed a case against the company in this incident as well. According to the judgment of this case, the amount of revenue due from the company including fine is 482 crore 46 lakh 42 thousand 898 taka.

The Dhaka South Bond Commissionerate ordered the company to pay Tk 1,940 crore with fines and duties due to irregularities in two steps, which exceeded Tk 1,200 crore with interest. After the issuance of this order, the institution is also given the opportunity to pay through e-payment in 6 installments; But the company has paid Tk 533 crore but is delaying to pay the remaining Tk 674 crore. Due to this, the bank account of the company was seized and the initiative was taken to stop the import-export activities.

Dhaka South Bond Commissionerate has written to banks and custom houses to take action as per Section 202 (1)(A)(B)(C)(D)(E) and (F) of Customs Act-1969. In these sections of the law, there is a provision of seizing the company’s bank account, if the product of the company is in a custom house or warehouse, the government will sell it and recover the debt.

Dhaka South Bond Commissionerate Commissioner Khaled Mohammad Abu Hossain did not get any statement when asked about this. Later, a senior officer of the Bond Commissionerate told Kalbela that letters have been sent to all custom houses and banks to collect the company’s dues. As part of this, the import-export activities of the company have been suspended. That is, product redemption has been suspended. These activities of the institution will be closed until the dues are collected.