The Dhaka Metropolitan District Judge Court, led by Senior Special Judge Md. Zakir Hossain, has issued an order to freeze shares worth approximately 35.63 billion taka belonging to Saiful Alam and his family members. These shares are held across 24 companies owned by the S Alam Group, totaling over 320 million shares.

The decision came on Thursday after the Anti-Corruption Commission (ACC) filed an application for the freezing of these shares. Special Public Prosecutor Mahmud Hossain Jahangir confirmed the ruling, stating that the court granted the request after hearing the matter.

The 24 companies whose shares have been frozen include well-known entities such as S Alam Tank Terminal Limited, S Alam Refinery Sugar Industries Limited, S Alam Cement Limited, S Alam Stills Limited, S Alam Power Plants Limited, and several others engaged in sectors ranging from power generation to logistics and property development.

According to the ACC, Saiful Alam, the chairman of the S Alam Group, and his family members collectively own a total of 32,010,194,778 shares in these 24 companies. The total value of these shares amounts to 35.63 billion taka.

The ACC has informed the court that an investigation is ongoing into allegations of illicit wealth accumulation and money laundering involving Saiful Alam and his family members. There have been reports suggesting that the family members have been attempting to transfer these shares abroad, which has raised concerns about potential irreparable damage to the state if these assets are allowed to be moved.

This ruling follows a series of previous court decisions aimed at freezing the assets of Saiful Alam and his family. On January 14, the court ordered the freezing of immovable assets worth 200 million taka and 68 bank accounts associated with the family. Earlier, on December 19, the court had ordered the freezing of 125 bank accounts belonging to the family. Furthermore, on October 7, a travel ban was imposed on Saiful Alam, his wife, children, and other family members to prevent them from leaving the country.