Dhaka, July 4 -- A money loan court in Chattogram has ordered the seizure of assets belonging to S Alam Group and its key subsidiaries to recover a massive defaulted loan of Tk10,280 crore from Islami Bank Bangladesh Ltd's Khatunganj branch.

The order, issued on Tuesday by Judge Md Helal Uddin of Artha Rin Adalat-1, includes the confiscation of land, buildings, shares, bank accounts, and other commercial assets tied to the conglomerate and its top officials.

According to court documents, the move targets various properties including a four-storey commercial building in Dhaka's Motijheel area and a total of 5 kathas and 9.90 decimals of land owned by Farzana Parvin, chairperson of S Alam Vegetable Oil Ltd. These assets were reportedly ac...