Securities and Exchange Commission

Enforcement Department


Following enforcement actions were taken by the Commission during April, 2003: 

Sl. No.

Date

Nature of default/Appeal

Commissionís decision

01

23/04/2003

Violation of Commissionís Notification No. SEC/SRMID/2000-953/313/Admin-06 dated 25th March 2001, Gazetted on 16th April 2001 (not submitting report of intention to buy shares of Highspeed) by Mr. K.M. Mahmudur Rahman, Managing Director Highspeed Shipbuilding & Heavy Engineering Co. Ltd.

 

Letter issued with warning to comply with all securities laws in future.

02.

23/04/2003

Violation of Commissionís Notification No. SEC/SRMID/2000-953/313/Admin-06 dated 25th March 2001, Gazetted on 16th April 2001 (not submitting report of intention to by shares of Samorita Hospital) by Sondhani Credit Co-operative Society Ltd..

 

Letter issued with warning to comply with all securities laws in future.

03.

23/04/2003

Violation of Commissionís Notification No. SEC/SRMID/2000-953/313/Admin-06 dated 25th March 2001, Gazetted on 16th April 2001 (not submitting report of intention to by shares of Niloy Cement Industries Ltd.) by Mr. Abdul Matlub Ahmed, Managing Director Niloy Cement Industries Ltd.

 

Letter issued with warning to comply with all securities laws in future.

04.

23/04/2003

Violation of rule 4 and 8 of the Securities and Exchange Rules, 1987  (submitting sell offers of ten clients using same client code) by Dhaka Stock Exchange dealer Globe Securities Ltd. (DSE Member No. 189).

 

Letter issued with warning to comply with all securities laws in future.

05.

27/04/2003

Violation of rule 12, Sub-rule (3A), Sub-rule 4, Sub-rule 6 of the Securities and Exchange Rules, 1987 (not submitting financial statement for 30th June 2001 in time) by Tamijuddin Textile Mills Ltd.

 

Letter issued with warning to comply with all securities laws in future.

06.

28/04/2003

Appeal against Commissionís order dated 17th June, 2002 imposing penalty of Taka 2.00 lacs (and also additional penalty of Taka 10,000 per day if default continuous after 60 days) on Mr. Md. Nurul Alam, Ex Director, J. H. Chemical Industries Ltd.

Appeal allowed and penalty withdrawn.

 

 

07.

28/04/2003

Violation of Commissionís Notification No. SEC/SRMID/2000-953/1950 dated 24th October, 2000, Gazetted on 7th November, 2000 and Notification No, SEC/SRMID/2000-985/2248/Pro-02/1 dated 19th December 2000, Gazetted on 25th February 2001 (non disclosure of price sensitive information) by Apex Tannery Limited.

Penalty of Taka 1.00 lac imposed on Mr. A. K. M. Rahmatullah, Managing Director of Apex Tannery Ltd.