Agarwala, a former member of the Awami League's central Sub-Committee on Industry and Commerce and a nomination aspirant for the Chuadanga-1 constituency, has long faced scrutiny over the interplay between his political connections and commercial enterprises.
Shooting Case in Uttara West
Filed on March 27, 2025 (Case No. 57), the Uttara West police case names Agarwala as accused number 31 under Sections 143, 147, 148, 307, 326, 109, and 114 of the Penal Code.
According to the police remand application filed by Investigation Officer SI Md. Suman Miah:
The Incident: On August 5, 2024, around 12:00 PM, during student-led anti-discrimination protests near the BNS Center on the Dhaka-Mymensingh Highway, Agarwala and other co-accused allegedly launched an armed attack and opened fire on protesters.
Injuries: The plaintiff sustained gunshot wounds near his waist and lower spine, losing consciousness before being rushed to Dhaka Medical College Hospital for extensive medical treatment.
Remand Justification: Police requested a 10-day remand to recover weapons used during the attack, trace co-accused, and investigate Agarwala’s physical presence and operational role at the scene.
BDT 678 Crore Money Laundering Investigation
A primary driver of recent legal scrutiny centers on Diamond World's financial transactions and sourcing practices between September 6, 2006, and February 8, 2024, at its Gulshan Avenue headquarters and showrooms.
Investigative findings by the Criminal Investigation Department (CID) reveal a sharp discrepancy in inventory origins:
Acquisition Source | Official Value (BDT) | Product Description | Status & Legal Concerns |
|---|---|---|---|
Formal Import (LC) | ~ 38.47 Crore | Gold bars, jewelry, loose diamonds | Imported via legal banking channels & Letters of Credit. |
Local Market Sourcing | ~ 678.19 Crore | Gold & diamonds purchased/converted | Lacks valid source documents; suspected to involve smuggled goods. |
CID Financial Crime Unit Inspector Mohammad Asaduzzaman Sheikh filed a money laundering case at Gulshan Police Station on November 17, 2025. Following his arrest in Banani on October 19, 2026, Metropolitan Magistrate Md. Ariful Islam granted CID Inspector Md. Ashraful Hasan a one-day remand on October 20 to interrogate Agarwala regarding transaction trails and supplier identities.
Previous Arrests and Legal Background
This is not Agarwala's first detention:
September 3, 2024: Arrested by the Rapid Action Battalion (RAB) and placed on a three-day remand regarding the killing of teenager Hriday Ahmed in Badda during the July movement.
Subsequent Bail & Release: After being named in multiple murder cases, he secured bail through legal proceedings and was released from prison on October 1, 2025.
Beyond his jewelry business, Agarwala was inducted into the Awami League’s Sub-Committee on Industry and Commerce in 2023 and actively sought a parliamentary nomination in Chuadanga-1. Past inquiries—including an Anti-Corruption Commission (ACC) probe initiated in 2017 into allegations of selling synthetic stones as real diamonds and customs documentation irregularities—continue to raise questions about whether his political standing provided regulatory leverage.
Ultimately, two parallel investigations—the July protest shooting and the BDT 678 crore money laundering case—will determine whether structural irregularities connected his commercial empire to his political network, contingent upon documentary evidence, investigative findings, and court verdicts.
