Petitions seek remand and revocation of bail for Simeen, CEO of Transcom, and five other officials

Two review petitions were filed today (Nov 24) in a Dhaka court seeking an order to cancel the bail of six Transcom Group officials, including CEO Simeen Rahman, in a case involving the alleged fraudulent acquisition of the majority shares of Transcom Limited and the creation of a false family settlement deed.

The petition also requested that the suspect be remanded in custody.

Shahzreh Haque, the youngest daughter of Transcom group founder Latifur Rahman, filed the two separate review petitions at the Dhaka Metropolitan Sessions Judge’s Court.

The plea hearing will take place tomorrow, Shahzreh Haque’s lawyer Ahsanul Karim told the media today (Nov 24).

The other suspects in the case are Transcom Group Executive Director (Corporate Affairs-Law) Md Fakhruzzaman Bhuiyan, Director (Corporate Finance) Kamrul Hasan, Director (Corporate Finance) Abdullah Al Mamun, Deputy Company Secretary Mohammad Mosaddek and Manager (Company Secretary) Abu Yusuf Md Siddique.

Sub-Inspector Mehedi Hasan of the Police Bureau of Investigation (PBI), the investigating officer of a case, said the original copies of the documents are against Simeen Rahman, who is accused of preparing fake share transfer documents with forged signatures of Shahzreh Haque and Arshad Waliur Rahman and its filing with the Registrar of Joint Stock Companies and Firms (RJSC), are not available.

The original documents are required for the investigation of the case, he said, adding that since the suspects are out on bail, they cannot be arrested and interrogated.

The officer added that two petitions were filed in the CMM court on May 29, seeking cancellation of the suspect’s bail and remand him in two separate cases.

However, the court rejected both requests.

Lawyers representing Shahzreh Haque said the two separate review petitions were subsequently filed in the Dhaka Metropolitan Sessions Judge’s Court, challenging the CMM Court’s dismissal order.

These petitions seek to reverse the earlier decision and seek remand of the suspect to facilitate investigations, the lawyers said.

On February 22, Shahzreh Huq filed three cases at Gulshan Police Station against eight officials for alleged embezzlement, occupation of property and illegal transfer of company shares.

According to the case documents, Simeen and her accomplices tried to illegally acquire around Rs 10,000 crore worth of properties from her father Latifur Rahman through fake deeds of settlements.

Shahzreh claimed that her father had left around Tk100 crore to FDRs in multiple banks before his death.

Also read: Transcom case gets worse as Shahzreh accuses Simeen of ‘murdering’ his brother

She accused her mother Shahnaz Rahman and sister Simeen Rahman of unequally dividing FDRs.

The rest are accused of participating in the embezzlement of money.

In one of the cases, the plaintiff alleged that her elder sister Simeen Rahman had forged 23,600 shares of Transcom Limited in her name to rob her and her brother Arshad Waliur Rahman, whom she met after her father’s death .

The Police Bureau of Investigation (PBI) arrested five of them, including two directors, from different places in Dhaka.

They were Ms. Fakhruzzaman Bhuiyan, Executive Director of Corporate Affairs and Law at Transcom Group; Kamrul Hasan and Abdullah Al Mamun, both Directors of Corporate Finance; Mohammed Mossadeq, the Assistant Company Secretary, and Abu Yusuf Md Siddik, Manager (Company Secretary).

Later, a Dhaka court granted them bail in these cases on February 23.

However, Shahnaz, Simeen and Zaraif were abroad at the time the cases were filed.

Later on March 22, Shahzreh Huq filed a murder case against 11 people, including Simeen Rahman, CEO of elder sister Transcom Group, on charges of murdering their brother Arshad Waliur Rahman.

The Supreme Court later ordered Shahnaz, Simeen and Zaraif to return from abroad and surrender to the lower court within 60 days, following a writ petition to participate in the judicial process legally and without any hindrance.

Simeen Rahman later surrendered before the court and was granted bail after returning to the country.