The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday requested the Bangladesh Bank (BB) to freeze bank accounts of two directors of C&A Textiles and Tung Hai Knitting & Dyeing Industries for violating securities rules.
The commission sent a letter to the central bank regarding the matter on the day.
It also urged them to freeze those companies’ bank accounts.
Earlier, the BSEC froze the beneficiary owners’ (BO) accounts of the sponsor directors of those companies.
On July 29, the stock market regulator fined directors of C&A Textile Tk19 crore in total, also banning them from acquiring the directorial positions in any other listed company.
The commission took this decision against them for violating a number of securities rules.
According to the BSEC information, Rukshana Morshed, Sharmin Akther Lovely and Bangladesh Shoes Industries earned profits worth Tk6.8 crore, Tk3.61 rore and Tk1.59 crore respectively by selling their huge volume of shares, owned at C & A Textiles, without giving prior declarations.
"The time periods of selling their shares, owned at C & A Textiles, were very close, and the company was closed just after execution of their sales orders," said the BSEC officials.
The company still remains closed, they added.
According to the BSEC decision, Rukshana Morshed, managing director, Sharmin Akther Lovely, director, and Bangladesh Shoe Industries' corporate director will have to pay penalties worth Tk8 crore, Tk4crore and Tk2 crore respectively.
The BSEC also fined Tk1 crore penalty each on five directors of the Tung Hai Knitting and Dyeing and barred them from becoming directors of any other listed company.
Tung Hai Knitting and Dyeing reportedly also violated the securities rules by not submitting the monthly shareholding position of its directors between August 2017 and August 2018.