The Bangladesh Securities and Exchange Commission (BSEC) has asked top officials from 11 companies and four persons to appear at a hearing today for alleged securities rules violations.
In most of the cases, the allegations of violations are related to price sensitive information (PSI), which were made to the stock market regulator by the companies.
The BSEC asked all directors, managing directors, and company secretaries of the companies to appear before it to explain the allegations. The hearing will be held from 11am at BSEC Bhaban at Agargaon.
The companies called to BSEC are, Bank Asia, Far Chemical Industries, United Airways (BD), Keya Cosmetics, Deshbandhu Polymer, Familytex (BD), Maksons Spinning Mills, Alif Manufacturing Company, Sonali Aansh Industries, Rahima Food Corporation and Beacon Pharmaceuticals Limited.
Others persons called to the hearing are Progoti Life Insurance Director Syed Muhammad Jan, Islamic Finance and Investment Limited Sponsor Fazlul Huq, Shahjalal Islami bank Sponsor S Jumma and Peoples Leasing and Financial Services Ltd Sponsor Monwar Hossain.
The commission made the decision on April 12 following reports of its enforcement and DSE teams about a number of securities rule violations by the 11 companies and 4 persons.
The companies have been called for violations such as price sensitive information (PSI) and for providing incorrect financial information.
“The violations of securities rules by such companies proved their weak corporate governance. After the Commission Hearing there should be actions taken,” said BSEC Executive Director and spokesperson, Saifur Rahman.
Last Wednesday, the stock market regulator asked top officials of 16 companies to appear at hearings for the violation of a number of securities rules.
Of the 16 companies, 11 attended the hearing. Among them were Agricultural Marketing (PRAN) Company Ltd, Doreen Power, Stylecraft Ltd, Daffodil Computers, Aamra Networks, Intech Online, Shurwid Industries, Dragon Sweater, Hamid Fabrics, Khan Brothers PP Woven Bag Industries Ltd, and Baraka Power.
The companies that were absent were S Alam Cold Rolled, Beach Hatchery Ltd, Generation Next Fashions, Meghna Condensed Milk Industries, and Meghna PET Industries.
Sunday, March 23, 2025
