A Dhaka court has acquitted Bashundhara Group Chairman Ahmed Akbar Sobhan and his son Sadat Sobhan of money misappropriating charges.
Chief Metropolitan Magistrate Irfan Ullahpassed the order after hearing on discharge petition by defence lawyer Abbasuddin Badal on Monday morning.
The court also acquitted one of the directors of East West Properties Development Ltd and Mahbub Morshed Hasan, vice-chairman of the same company.
The court also ordered to continue the case with two other accused Towhidul Islam, deputy managing director of the company; and MA Hassan, assistant general manager.
On December 27, 2012, the plaintiff Selim Ahmed, Chairman of Jalal Ahmed Spinning Mills Ltd filed a case against Bashundhara Chairman and four others for misappropriating Tk39,534,429 from the company following a deed to hand over three plots of East West Properties and Development.