Securities and Exchange Commission

    Enforcement Department

     Following enforcement actions were taken by the Commission during October, 2002:-

    Sl. No.

    Date

    Nature of default/Appeal

    Commission Decision

    01.

    10/10/2002

    Violation of Securities and Exchange Rules, 1987 by Dhaka Stock Exchange dealer Doha Securities (DSE Member No. 127)

     

    Licence suspended for 30 days with effect from 10/10/2002.

    02.

    23/10/2002

    Appeal against Commissionís order dated 19/09/2002 imposing, penalty of Taka 5.00 lacs (and also additional penalty of Taka 10,000 per day if default continuous after 15 days) on Mrs. Kanchan Kejriwal, Director of Doel Group for non payment of undistributed dividend and due principal and interest of debenture by Bangladesh Dyeing and Finishing Industries Ltd., Bangladesh Zipper Industries Ltd., Bangladesh Chemical Industries Ltd. and Bangladesh Luggage Industries Ltd.

     

    Appeal rejected. In case of non- payment of total undistributed dividend of 2001 and due principal and interest of debenture within next 7 days from the order dated 23/10/2002, an additional penalty of Taka 10,000 per day will be imposed till default continues.

    03.

    23/10/2002

    Appeal against Commissionís order dated 19/09/2002 imposing, penalty of Taka 5.00 lacs (and also additional penalty of Taka 10,000 per day if default continuous after 15 days) on Mrs. Kanchan Devi Kejriwal, Director of Doel Group for non payment of undistributed dividend and due principal and interest of debenture by Bangladesh Dyeing and Finishing Industries Ltd., Bangladesh Zipper Industries Ltd., Bangladesh Chemical Industries Ltd. and Bangladesh Luggage Industries Ltd.

     

    Appeal rejected. In case of non- payment of total undistributed dividend of 2001 and due principal and interest of debenture within next 7 days from the order dated 23/10/2002, an additional penalty of Taka 10,000 per day will be imposed till default continues.

    04.

    23/10/2002

    Appeal against Commissionís order dated 19/09/2002 imposing, penalty of Taka 5.00 lacs (and also additional penalty of Taka 10,000 per day if default continuous after 15 days) on Mrs. Vagabati Devi Kejriwal, Director of Doel Group for non payment of undistributed dividend and due principal and interest of debenture by Bangladesh Dyeing and Finishing Industries Ltd., Bangladesh Zipper Industries Ltd., Bangladesh Chemical Industries Ltd. and Bangladesh Luggage Industries Ltd.

     

    Appeal rejected. In case of non- payment of total undistributed dividend of 2001 and due principal and interest of debenture within next 7 days from the order dated 23/10/2002, an additional penalty of Taka 10,000 per day will be imposed till default continues.

    05.

    23/10/2002

    Appeal against Commissionís order dated 19/09/2002 imposing, penalty of Taka 5.00 lacs (and also additional penalty of Taka 10,000 per day if default continuous after 15 days) on Mr. Uttam Kejriwal, Director of Doel Group for non payment of undistributed dividend and due principal and interest of debenture by Bangladesh Dyeing and Finishing Industries Ltd., Bangladesh Zipper Industries Ltd., Bangladesh Chemical Industries Ltd. and Bangladesh Luggage Industries Ltd.

     

    Appeal rejected. In case of non- payment of total undistributed dividend of 2001 and due principal and interest of debenture within next 7 days from the order dated 23/10/2002, an additional penalty of Taka 10,000 per day will be imposed till default continues.

    06.

    23/10/2002

    Appeal against Commissionís order dated 19/09/2002 imposing, penalty of Taka 15.00 lacs (and also additional penalty of Taka 10,000 per day if default continuous after 15 days) on Mr. Ashok Kejriwal, Director of Doel Group for non payment of undistributed dividend and due principal and interest of debenture by Bangladesh Dyeing and Finishing Industries Ltd., Bangladesh Zipper Industries Ltd., Bangladesh Chemical Industries Ltd. and Bangladesh Luggage Industries Ltd.

     

    Appeal rejected. In case of non- payment of total undistributed dividend of 2001 and due principal and interest of debenture within next 7 days from the order dated 23/10/2002, an additional penalty of Taka 10,000 per day will be imposed till default continues.

    07.

    23/10/2002

    Appeal against Commissionís order dated 19/09/2002 imposing, penalty of Taka 5.00 lacs (and also additional penalty of Taka 10,000 per day if default continuous after 15 days) on Mr. D.N. Kejriwal, Managing Director of Doel Group for non payment of undistributed dividend and due principal and interest of debenture by Bangladesh Dyeing and Finishing Industries Ltd., Bangladesh Zipper Industries Ltd., Bangladesh Chemical Industries Ltd. and Bangladesh Luggage Industries Ltd.

    Appeal rejected. In case of non- payment of total undistributed dividend of 2001 and due principal and interest of debenture within next 7 days from the order dated 23/10/2002, an additional penalty of Taka 10,000 per day will be imposed till default continues.

    08.

    23/10/2002

    Non payment of due principal and interest of debenture of Bangladesh Welding Electrodes Ltd.

    Penalty of Taka 1.00 lac on Mr. A.R. Khan, Chairman of the Company.

     

    If the company fails to distribute due principal and interest of debenture within next 15 days from the order dated 23/10/2002 an additional penalty of Taka 10,000 per day will be imposed till default continues.

    09.

    23/10/2002

    Non payment of due principal and interest of debenture of Bangladesh Welding Electrodes Ltd.

    Penalty of Taka 3.00 lac on Mr. S.M. Nurul Islam, Managing Director of the Company.

     

    If the company fails to distribute due principal and interest of debenture within next 15 days from the order dated 23/10/2002 an additional penalty of Taka 10,000 per day will be imposed till default continues.

    10.

    23/10/2002

    Non payment of due principal and interest of debenture of Bangladesh Welding Electrodes Ltd.

    Penalty of Taka 1.00 lac on Mrs. Hosne Ara Khan, Director of the Company.

     

    If the company fails to distribute due principal and interest of debenture within next 15 days from the order dated 23/10/2002 an additional penalty of Taka 10,000 per day will be imposed till default continues.

    11.

    23/10/2002

    Non payment of due principal and interest of debenture of Bangladesh Welding Electrodes Ltd.

    Penalty of Taka 1.00 lac on Mr. Aminur Reza Khan, Director of the Company.

     

    If the company fails to distribute due principal and interest of debenture within next 15 days from the order dated 23/10/2002 an additional penalty of Taka 10,000 per day will be imposed till default continues.

    12.

    23/10/2002

    Non payment of declared dividend of 2001 by Meghna Shrimp Culture Ltd.

    Penalty of Taka 5.00 lacs on Mr. Md. Shariful Islam, Managing Director.

     

    If the company fails to distribute total undistributed dividend within next 15 days from the order dated 23/10/2002 an additional penalty of Taka 10,000 per day will be imposed till default continues.

    13.

    23/10/2002

    Non-cooperation by Dhaka Vegetable Oil Industries Ltd. with Commission appointed auditor to audit the companyís financial statement of 1999-2000.

    Penalty of Taka 10.00 lacs on Mr. Mohammad Ali, Chairman & Managing Director, if the company fails to co-operate with the Commissionís appointed auditor within next 30 days from the order dated 23/10/2002.

     

    An additional penalty of Taka 10,000 per day will be imposed if default continues after 30 days.

    14.

    23/10/2002

    Non-cooperation by Dhaka Vegetable Oil Industries Ltd. with Commission appointed auditor to audit the companyís financial statement of 1999-2000.

    Penalty of Taka 10.00 lacs on Mr. A.T.M. Sirajuddin, Director, if the company fails to co-operate with the Commissionís appointed auditor within next 30 days from the order dated 23/10/2002.

     

    An additional penalty of Taka 10,000 per day will be imposed if default continues after 30 days.

    15.

    23/10/2002

    Non-cooperation by Dhaka Vegetable Oil Industries Ltd. with Commission appointed auditor to audit the companyís financial statement of 1999-2000.

    Penalty of Taka 1.00 lac on Mr. Mohammad Suruzzaman, Director, if the company fails to co-operate with the Commissionís appointed auditor within next 30 days from the order dated 23/10/2002.

     

    An additional penalty of Taka 10,000 per day will be imposed if default continues after 30 days.

    16.

    23/10/2002

    Non-cooperation by Dhaka Vegetable Oil Industries Ltd. with Commission appointed auditor to audit the companyís financial statement of 1999-2000.

    Penalty of Taka 1.00 lac on Mr. M.A. Rashid, Director, if the company fails to co-operate with the Commissionís appointed auditor within next 30 days from the order dated 23/10/2002.

     

    An additional penalty of Taka 10,000 per day will be imposed if default continues after 30 days.

    17.

    23/10/02

    Non submission of audited financial statements to the Commission for the year 2000 & 2001 by Pharmaco International Ltd.

    Penalty of Taka 3.00 lacs on Mr. A. K. M. A. Matin, Chairman & Managing Director, if the company fails to submit audited financial statements to the Commission within next 30 days from the order dated 23/10/2002.

     

    An additional penalty of Taka 10,000 per day will be imposed if the default continues after 30 days.

    18.

    23/10/02

    Non submission of audited financial statements to the Commission for the year 2000 & 2001 by Pharmaco International Ltd.

    Penalty of Taka 1.00 lac on Mr. M. Amzad Hossain, Director, if the company fails to submit audited financial statements to the Commission within next 30 days from the order dated 23/10/2002.

     

    An additional penalty of Taka 10,000 per day will be imposed if the default continues after 30 days.

    19.

    23/10/02

    Non submission of audited financial statements to the Commission for the year 2000 & 2001 by Pharmaco International Ltd.

    Penalty of Taka 1.00 lac on Mrs. Rukhsana Sultana, Director, if the company fails to submit audited financial statements to the Commission within next 30 days from the order dated 23/10/2002.

     

    An additional penalty of Taka 10,000 per day will be imposed if the default continues after 30 days.

    20.

    23/10/02

    Non submission of audited financial statements to the Commission for the year 2000 & 2001 by Pharmaco International Ltd.

    Penalty of Taka 1.00 lac on Mrs. Rashida Matin, Director, if the company fails to submit audited financial statements to the Commission within next 30 days from the order dated 23/10/2002.

     

    An additional penalty of Taka 10,000 per day will be imposed if the default continues after 30 days.

    21.

    23/10/2002

    Non holding of annual general meeting for 2001 by Orion Infusion Ltd.

    Penalty of Taka 15.00 lacs on Mr. Md. Obaidul Karim, Chairman & Managing Director, if the company fails to hold its annual general meeting within next 30 days from the order dated 23/10/2002.

     

    An additional penalty of Taka 10,000 per day will be imposed if the default continues after 30 days.

    22.

    23/10/2002

    Non holding of annual general meeting for 2001 by Orion Infusion Ltd.

    Penalty of Taka 3.00 lacs on Mrs. Arzuda Karim, Director, if the company fails to hold its annual general meeting within next 30 days from the order dated 23/10/2002.

     

    An additional penalty of Taka 10,000 per day will be imposed if the default continues after 30 days.

    23.

    23/10/2002

    Non holding of annual general meeting for 2001 by Orion Infusion Ltd.

    Penalty of Taka 3.00 lacs on Mr. Salman O. Karim, Director, if the company fails to hold its annual general meeting within next 30 days from the order dated 23/10/2002.

     

    An additional penalty of Taka 10,000 per day will be imposed if the default continues after 30 days.

    24.

    23/10/2002

    Non holding of annual general meeting for 2001 by Orion Infusion Ltd.

    Penalty of Taka 3.00 lacs on Mrs. Zarin Karim, Director, if the company fails to hold its annual general meeting within next 30 days from the order dated 23/10/2002.

     

    An additional penalty of Taka 10,000 per day will be imposed if the default continues after 30 days.