Securities and Exchange Commission

Enforcement Department


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

Sl. No.

Date

Nature of default/Appeal

Commissionís decision

01.

07/06/2003

Request to allow two months to comply with Commissionís directive (to deliver shares and to make due payments) dated 24 May 2003 by Dhaka Stock Exchange dealer Syed Tawfiq Hossain Ali & Co. (DSE Member No. 49).

 

Time is extended upto 31 July 2003 to comply with Commissionís directive SEC/ Enforcement/171/2003-85 dated 24 May 2003.

 

02.

18/06/2003

Complaints against past & present Management of German Bangla J. V. Food Ltd. for misusing IPO fund.

Directive issued under section 20A of the Securities and Exchange Ordinance, 1969 imposing restriction on sell or transfer of shares of all Sponsor, Director, Managing Director and Chairman without Commissionís approval.