SEC fines 3 directors, MD of Khwaja Mosaic
Unb, Dhaka
The Securities and Exchange Commission (SEC) yesterday fined three directors and managing director of Khwaja Mosaic Tiles and Stone Industries Limited Tk 100,000 each for violating securities rules.An SEC statement said the company management failed to submit audited financial statement for the year ending June 30, 2004 and the half-yearly report as on December 31, 2003. Directors Salauddin, Mesbauddin and Jamaluddin and Managing Director Alhaj Mainuddin were penalised. The SEC asked them to pay the respective penalty within 15 days from Sunday. For delay in depositing the fines with the SEC, they will each have to pay Tk 10,000 for each day of default, it said.
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