SEC fines 3 firm directors
Star Business Report
The Securities and Exchange Commission (SEC) has fined all directors of three textile companies -- Sripur Textile Mills Limited, Kashem Silk Mills Limited and Kashem Textile Mills Limited -- for violation of securities rules.The stock market regulator fined them for not holding annual general meeting (AGM) for the year 2006. The fine of Tk 1 lakh each will have to be paid to the SEC within 15 days from the order issued yesterday, according to a press release. The SEC also imposed a fine of Tk 10,000 each on all the directors of the three companies for each day's delay in holding the AGM for the year 2006. The punished directors are Sripur Textile Mills Chairman and Managing Director A Ahmed Yusuf and directors Professor Nurul Haque, AR Malik, Shafiqur Rahman and CH Mahtabuddin, Kashem Silk Mills Chairman/Director AKM Maidul Islam, Managing Director Khadiza Shamim and Director Selina Begum, and Kashem Textile Mills Chairman/Managing Director AKM Maidul Islam and directors Khadiza Shamim and Selina Begum.
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