The Managing Director of Oasis High-Tech Sportswear Limited, Mo. Ashfakur Rahman Chowdhury, has been remanded to prison by a judicial court in Comilla following his apprehension in connection with a multi-million-pound loan default and cheque dishonour case. The formal detention order was issued by the presiding magistrate on Saturday afternoon, 23 May 2026.
The suspect had been taken into police custody earlier the same afternoon from his private residence situated in the Jhautala neighbourhood of Comilla city. The execution of the arrest warrant and the subsequent judicial transfer were formally validated to media representatives by the Officer-in-Charge (OC) of Comilla Kotwali Model Thana, Touhidul Anwar.
Credit Allocation History and Institutional Default Metrics
According to formal documentation disclosed by the Investment In-charge of the Islami Bank Comilla Branch, Mo. Emdadul Motin, Oasis High-Tech Sportswear Limited operates under a joint corporate partnership. The enterprise is managed by its structural Chairman, Javed Ali, and the currently detained Managing Director, Mo. Ashfakur Rahman Chowdhury. Bank tracking logs confirm that the corporate Chairman, Javed Ali, is currently residing outside the country within the United States of America.
The background of the financial dispute traces back to 2016, when the garment manufacturing entity secured a substantial investment facility valued at 116 crore 10 lakh taka from the Comilla branch of Islami Bank Bangladesh PLC. Whilst corporate transactions and repayment obligations were maintained in a regular and compliant manner until 2018, structural irregularities emerged during the 2019 financial year, during which approximately 100 crore taka lapsed into a non-performing status. Over the subsequent operating periods, the remainder of the credit facility degraded into a total default. Driven by accumulated interest penalties and unserviced principal balances, the current institutional liability claimed by the banking institution exceeds 176 crore taka.
Cheque Dishonour Litigation and Judicial Sentencing
Representatives from Islami Bank Comilla branch stated that the institution initiated multiple rounds of direct communications and administrative collections over an extended period to recover the outstanding capital. However, the corporate directors failed to implement any effective fiscal measures or structured repayment schedules to satisfy the debt.
In a subsequent attempt to partially mitigate the expanding defaults, the accused parties issued formal bank cheques to the financial institution. Upon presentation to the clearing house, the corporate accounts were found to contain insufficient funds, leading to immediate cheque dishonour notifications and the subsequent initiation of formal criminal prosecution under the Negotiable Instruments Act.
The designated legal counsel representing Islami Bank Comilla, Advocate Badiul Alam Sujan, clarified that Mo. Ashfakur Rahman Chowdhury had personal and corporate involvement across separate credit facilities culminating in the collective 176 crore taka default. The legal counsel stated that the defendant engaged in fraudulent practices by consciously issuing non-negotiable cheques against depleted accounts.
Current Legal Status and Police Enforcement Data
Consequently, five distinct financial lawsuits were filed against the managing director within the district courts. Following the conclusion of trials in one of the primary components of the litigation, the court found the suspect guilty, sentencing him to a defined one-year term of imprisonment. The remaining four interconnected financial cases remain under active trial within the local judiciary, with the prosecution expressing optimism that the remaining judicial verdicts will be delivered within a brief timeframe.
| Enforcing Authority | Apprehension Coordinates | Primary Conviction Term | Co-Accused Judicial Status |
| Comilla Kotwali Model Police | Jhautala District, Comilla | 1 Year (12 Months) | Absconding (Located in USA) |
| Brahmanbaria / District Court | Local Residential Compound | 1 Year (12 Months) | Under Active International Tracking |
The Officer-in-Charge of Comilla Kotwali Model Thana, Touhidul Anwar, reconfirmed that the one-year custodial sentence had been issued by the competent court following the suspect’s failure to comply with prior judicial terms. The managing director had been classified as an absconder for a significant duration after the sentencing order was signed. Following his successful arrest on Saturday afternoon, the police executed the standing warrant and safely transferred Chowdhury to the Comilla District Jail to begin serving his court-mandated sentence.