Misappropriation of Tk 45 lakh: Regent chairman Shahed on 6-day remand

A Dhaka court today placed Regent Group Chairman Mohammad Shahed on a six-day remand in a case filed against him on charges of misappropriating over Tk 45 lakh from a house owner.

Metropolitan Magistrate Md Masud-Ur- Rahman passed the order after Md Farukuzzaman Mollick, a sub-inspector of Pallabi Police Station and also the investigation officer of the case, produced him before the court with a 10-day remand prayer.

In the remand prayer, the IO said the accused rented four floors measuring 16,148 square feet on May 8, 2016 for his "Regent Hospital Ltd" in Pallabi area. The house-rent was fixed at Tk 2.5 lakh per month.

But the accused did not pay the house-rent which stands at an amount of over Tk 45 lakh from May 8, 2016 to March 12, 2020.

So, he needs to be remanded to extract more information and know the whereabouts of the others responsible for committing such an offence, the IO added.

On the other hand, defence submitted a bail petition along with cancellation of the remand prayer.

After hearing both sides, the magistrate turned down his bail petition and issued the remand order.

House-owner Firoz Alam Chowdhury filed the case against Shahed on July 13 with Pallabi Police Station.

Shahed was arrested on July 15 from Satkhira when he was trying to leave the country in a boat.