ACC seeks BPC, BPDB records

The Anti-Corruption Commission (ACC) has sought a series of documents from the Bangladesh Petroleum Corporation (BPC) and the Bangladesh Power Development Board (BPDB) as part of its investigation into allegations of bribery, corruption, illicit enrichment and money laundering involving Summit Group and its associated entities in the energy sector.

In separate letters issued from its headquarters, the anti-graft watchdog directed the two state agencies to submit the required records by July 30. The letters were signed by ACC Deputy Director and head of the joint investigation team, Md Alamgir Hossain.

Confirming the development, ACC Deputy Director (Public Relations) Akhtarul Islam said a special investigation team was examining allegations of corruption and money laundering linked to Summit Group.

"Further legal action will be taken in accordance with the law after the documents are verified," he said.

According to ACC sources, the investigation team has sought records to verify the cost structure of imported heavy fuel oil (HFO) supplied to independent power plants (IPPs) operated by Summit Power Limited.

The requested documents include fuel cost components in the format prescribed by the BPC, approvals and clearances relating to fuel imports under agreements between the BPDB and Summit Power Limited, permissions for imports through alternative suppliers, accounting records for each fuel shipment, summary statements, handling commissions, port and inland river port charges, survey fees, terminal charges, value added tax (VAT), bills of lading, London Tanker Brokers' Panel certificates, bank advice letters and authenticated records of port fees.

According to ACC officials, the documents will be examined to verify allegations that Summit Group and its associated entities amassed illegal wealth, secured undue financial benefits through corrupt practices and laundered money.

The latest inquiry follows an earlier ACC case over alleged revenue evasion of about Tk 102.45 million.
On August 26, 2025, ACC Assistant Director Nasrullah Hossain filed the case, alleging that the government incurred a revenue loss of Tk 102,452,652 through irregularities in the issuance of shares by Summit Communications Limited.

The case names seven accused, including Summit Communications Chairman Mohammad Farid Khan, Bangladesh Telecommunication Regulatory Commission (BTRC) panel lawyer Khandaker Reza-e-Rakib, former BTRC Chairman Engineer Md Mohiuddin Ahmed and several former commissioners.

According to the first information report, Summit Communications, allegedly with the assistance of BTRC officials and panel lawyers, unlawfully issued 142,888,136 new ordinary shares. Of those, 94,488,911 were allotted to UAE-based Global Energy, which the ACC says is owned by Muhammad Aziz Khan and members of his family. Another 44,095,119 shares were issued to Mauritius-based Sekuwa Infra Tech Limited, while 7,104,406 shares were allotted to existing shareholder Md Arif Al Islam.

The ACC alleged that the issuance increased the company's total shares from 57 million to 192 million, reducing Mohammad Farid Khan's ownership from 95 per cent to 25 per cent, while the combined stake of the two foreign companies rose to 70 per cent.

According to the ACC, the Bangladesh Telecommunication Regulation Act, 2001 requires payment of 5.5 per cent of the value of transferred shares in the event of a change in ownership. However, it alleged that government revenue was evaded after a legal opinion stated that the provision did not apply to the Summit Communications transaction. 

The commission alleged that the share restructuring was approved on the basis of that opinion, resulting in a revenue loss of about Tk 100.24 million. It said further legal action over the allegations relating to Summit Group's energy sector operations would be considered after analysing the documents received from the BPC and the BPDB.