Twenty-five plots allotted to Fortune Invention and Technology Limited at the Jhalakathi BSCIC industrial estate have not been cancelled despite Tk 14.4 million in unpaid land installments and the absence of a submitted industrial layout. According to BSCIC sources cited in the report, the company received the plots in 2023, accounting for one-third of the estate’s 79 industrial plots. No industrial facility has been established on the allocated land, which remains vacant.

The report says the 25 plots cover 117,000 square feet, although BSCIC rules allow allocations of up to 15,000 square feet. BSCIC issued repeated notices seeking payment of the arrears, but the owners have not taken steps to pay, according to the report. It also notes that the Bangladesh Securities and Exchange Commission had fined Fortune Shoes Limited’s chairman, directors and officials over allegations of failing to distribute dividends and pay listing fees.

BSCIC official Al Amin said Fortune had received reminder letters and a final notice, and a decision to cancel the allocation could emerge at the next meeting. Deputy Commissioner Momin Uddin said a final notice had been issued over the unpaid installments and necessary action would be decided at an upcoming meeting. The report says 51 of the estate’s 79 plots, including Fortune’s 25, are vacant.