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BSEC fines directors of five companies
Bangladesh Securities and Exchange Commission (BSEC) has fined directors of five companies.
Published : 9 Feb 2016, 05:11 PM
Updated : 9 Feb 2016, 05:11 PM
The decision to slap the fine was taken at a regular meeting of the BSEC on Tuesday, the commission said in a statement.
The companies whose directors are fined are Khwaja Mosaic Tiles and Stone Industries Limited, Saleh Carpet Mills Limited, Phoenix Insurance Company Limited, Jago Coporation Limited, and M Hossain Garments Washing and Dyeing Limited.
All the directors (except for independent directors), including the managing directors of these companies, barring Saleh Carpet Mills Limited, were fined Tk 200,000.
Directors of the Saleh Carpet were fined Tk 100,000.
According to the statement, directors of the Phoenix Insurance Company Limited were penalised for submitting false information in the unaudited financial statement of the third quarters ending Sep 30, 2012.
The others were fined for failing to submit audited financial statements and financial reports of different periods.
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