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Law enforcement agencies have launched special operations to arrest top executives of Pacific Bangladesh Telecom Limited (PBTL), the defunct mobile operator known as Citycell, as part of ongoing legal crackdowns against high-profile loan defaulters. The operation is being conducted to execute arrest warrants issued in an execution case filed by Mutual Trust Bank PLC (MTB) over a defaulted loan amounting to Tk 135 crore.
To recover the defaulted loan, MTB filed a suit against PBTL at the Dhaka Artha Rin Court on July 5, 2018 (Case No. 521/2018). A total of 12 entities and individuals were named as defendants in the legal proceedings, including foreign equity partners and corporate guarantors Singtel Asia Pacific Investment Private Limited, Far East Telecom Limited, and Pacific Motors Limited. Following an eight-year judicial process, Judge Md. Farid Uddin of Dhaka Artha Rin Court No. 07 delivered an official verdict and decree in favor of MTB against PBTL on May 13, 2026.
When PBTL failed to pay the dues specified in the verdict within the court-mandated deadline, MTB filed an execution case (No. 810/2026) on July 27 to recover Tk 135.32 crore in accordance with the decree. Subsequently, upon the bank's application in light of applicable laws and loan recovery regulations, the court issued arrest warrants against the top responsible officials of PBTL.
Under Section 34(1) of the Artha Rin Adalat Ain, 2003, the top executives facing arrest warrants for civil detention are PBTL Chief Executive Officer (CEO) Mehboob Choudhury, founder and Chairman and former Foreign Minister M Morshed Khan, Director Nasrin Khan, Director Asgar Karim, and Acting Chief Financial Officer (CFO) and guarantor Md. Farikul Hasan.
In accordance with the Artha Rin Court's directives to execute civil detention for the warrant-listed individuals, Gulshan Police Station conducted a special operation on November 2. As part of this operation, police raided the Gulshan residential address of PBTL Director Asgar Karim in an attempt to execute the arrest warrant. However, the caretaker of the residence informed the police that he was not present at the house at the time.
Police administration has confirmed that intelligence surveillance and search operations have been intensified to locate and arrest the warrant-listed officials before the upcoming court deadline of November 18 to ensure the enforcement of the court's decree.
https://thedailyexpress.news/news/business/1f1dd2cb-6a71-69e0-9a90-3cc160877ce1