Failure to Hold AGMs, Submit Financial Statements
SEC fines 9 officials of 2 companies
BDNEWS, Dhaka
The Securities and Exchange Commission (SEC) yesterday fined nine management officials, including chairmen and managing directors, of two companies for failing to hold annual general meetings (AGMs) and for not submitting financial statements. SEC sources said the Commi-ssion fined the four officials of Dhaka Vegetable Oils Ltd Tk one lakh each for the failure of holding AGMs for the year 2001 to 2003. Five officials of Saleh Carpet Mills Ltd were accused for not submitting the annual financial statement as of December 2003, sources said. Each of the officials was instructed to deposit Tk one lakh each in fine. Dhaka Vegetable Oils Ltd Chairman and Managing Director Mohammad Ali, Executive Director MA Rashid, directors ATM Sirajuddin and Mohammad Surujjaman were fined. Saleh Carpet Mills Ltd officials who are fined are Chairperson Dilara Begum, Managing Director Shamim Ara Begum and directors Rezaul Karim Chowdhury, Badrul Huq and Ruhul Amin. The penalty money will have to be deposited within 15 days. Officials, who will fail to deposit the penalty within the stipulated period, will be required to pay Tk 10,000 for each succeeding day. Earlier, the SEC fined these five high officials of Saleh Carpet Mills Ltd Tk two lakh each in April 5 this year for not holding the AGM for the year 2003.
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