DHAKA, April 21, 2025 (BSS) – A court here today ordered to attach 100 acres of land in sector 19 of   Purbachal New City Project which had been allocated for the construction of a 100 to 142- storey Icon Tower.

The land was temporarily allotted to Power Pace Holding Limited, a company, owned by Ron Haque Sikder, Managing Director of the Sikder Group.

Dhaka Metropolitan Senior Special Judge Md. Zakir Hossain Ghalib issued the order in response to a petition,  filed by the Anti-Corruption Commission (ACC), said Akhtarul Islam, ACC Deputy Director.

According to the petition, a seven-member investigation team has been formed to probe allegations against Zainul Haque Sikder, Chairman of the Board of Directors of National Bank Limited, and his associates. 

The allegations include corruption, misuse of power, embezzlement of public funds under false pretences, illegal loans in exchange of bribes and money laundering, which are linked to Sikder Group.

During the investigation, it was unearthed that RAJUK’s Central Business District (CBD) temporarily allotted the land to Power Pace Holding Limited, owned by Ron Haque Sikder for constructing an Iconic Tower in the Purbachal New City Project.

The plot was allotted through a manipulated auction at a fixed rate of TK 30.25 crore per acre. Upon document review and site inspection, it was found that the Sikder Group’s private security force had taken control of the land by paying an instalment of TK 270.50 crore.

A three-story building was also being constructed on the site without RAJUK’s approval. Power was supplied by self-constructed power houses.

Besides, in the disguise of development work, a fabricated record was created through Fast Security Islami Bank PLC, Kawran Bazar branch. Based on this, a loan of TK 110.27 crore was approved, disbursed, and then misused through illicit transfer and conversion.

The attachment of the proposed construction project has become inevitable for the sake of proper investigation of the case.