Securities and Exchange Commission

Enforcement Department

Monthly Report

1^st June 2004

The Commission during May 2004 took following enforcement action:

Sl. No.	Date	Nature of default/Appeal	Commission’s decision
01.	02.05.04	Non holding of annual general meeting by Karim Pipe Mills Ltd.	Penalty of Taka 1.00 lac imposed on Mr. Juglul Karim, Director of the Company. An additional penalty of Taka 10,000 per day if default continues after the date of the order.
02.	23.05.04	Appeal against Commission’s order dated 22/03/2004 imposing panalty of Taka 1.00 lacs (and also additional penalty of Taka 10,000 per day if default continuous after the date of the order) on Mr. Khan Mohammad Iqbal, Chairman & Managing Director of Sonali Paper & Board Mills Ltd. for non holding of annual general meeting.	Appeal rejected. The Commission, however has withdrawn additional penalty of Taka 10,000 per day.
03.	24.05.04	Alleged trading of Uttara Bank shares by one of the directors of the bank through M/s. Haji Mohammad Ali & Co., DSE membership No. 165 without depositing money etc.	Considering the interest of the investors and the securities market, the directive given earlier for stopping the trading facilities, has been withdrawn.
04.	29.05.04	Non holding of annual general meeting by A. B. Biscuit Company Limited.	Penalty of Taka 1.00 lac imposed on Mr. Md. Habibur Rahman Mia, Chairman of the issuer. An additional penalty of Taka 10,000 per day if default continues after the date of order.

Farhad Ahmed

Executive Director