DHAKA, Feb 5, 2024 (BSS) - The Appellate Division of the Supreme Court (SC) today discharged a High Court Division suo moto rule issued over inaction of investigation agencies in probing illegal foreign investment of S Alam Group.

A six-member apex court bench headed by Chief Justice Obaidul Hassan passed the order after holding hearing on leave to appeal petition filed by S Alam Group owner Mohammad Saiful Alam and his wife Farjana Pervin.

The Appellate Division, however, said the Anti-Corruption Commission (ACC) and Bangladesh Financial Intelligence Unit (BFIU) independently take legal steps over the issue.

The Daily Star on August 4, 2023, published a report titled "S Alam's Aladdin's Lamp", narrating the illegal foreign investment of the group.

Supreme Court lawyer Barrister Syed Sayedul Haque Suman brought the matter to High Court's attention, making it to issue the suo moto rule on August 6.