Loan defaulter arrested

Police said they arrested Monirul Haq Chowdhury, owner of "Call N Shop" in connection with a forgery case filed with Gulshan police station on December 22.

M Shariful Hasan, senior Principal officer of the Dhaka Mercantile Cooperative Bank Ltd, filed the case.

According to the First Information Report (FIR), Monirul received Tk 48,64,725 as loan from the bank against his two applications submitted on April 19 and July 28 last year.

Bank asked him for submitting original documents of his collateral within a week. Monirul had promised to submit the original papers, but he did not.

As he had a good term with a section of officials of the bank, he was allowed to draw the loan without submitting any paper. He then applied for more loan, amounting to Tk 6 lakh, from the bank.

He didn't return the money even after he was issued a legal notice by the bank on August 31, giving him seven days' time for the repayment.

Police produced Monirul before a court on Thursday. The court sent him to jail.