Dhaka, April 22 -- The Khatunganj Branch of Islami Bank Bangladesh has decided to auction 20 acres of mortgaged land, a sugar refinery factory, ponds, farmland, and other property owned by S. Alam Group to realize its non-payment loans.

According to the bank authorities, a loan taken by the S. Alam Group from Islami Bank's Khatunganj branch in Chattogram became non-performing, reports BSS.

S. Alam Refined Sugar Industries Limited took multiple investments from Khatunganj branch of Islami Bank since 2010. Over the period, the loan amount has grown significantly and reached around Taka 99.48 billion.

Assistant Vice President of Islami Bank Khatunganj Branch said that a case was filed with the Artha Rin Adalat after getting no response fr...