A Dhaka court granted bail to five officials of Transcom Group who were arrested in connection to three seperate cases filed by Shahzreh Huq, daughter of the late chairman of the group, over alleged money embezzlement, property grabbing and illegal transfer of company shares.
The Dhaka Metropolitan Magistrate Shanta Akter's court granted them bail upon a surety bond of Tk3,000 each after a hearing on Friday (23 February).
The officials - officials are Md Fakhruzzaman Bhuiyan, serving as the executive director for Corporate Affairs and Law at the Transcom Group; Kamrul Hasan and Abdullah Al Mamun, both directors in Corporate Finance; Mohammed Mossadeq, the assistant company secretary, and Abu Yusuf Md Siddik,
They were produced the five arrestees in the court and PBI applied for a five-day remand for Abdullah Al Mamun and a 10-day remand for each of the other four.
On behalf of the accused, their lawyers applied for cancellation of remand and sought bail. The prosecution opposed was opposed the appeals.
After hearing arguments from both sides, the court granted bail to each till the next hearing.