55th extension of PLFSL’s share trading suspension
BI Report || BusinessInsider
People’s Leasing and Financial Services Limited logo
The Dhaka Stock Exchange (DSE) has further extended the deadline for share trading suspension of People’s Leasing and Financial Services Limited (PLFSL) hit by rogue banker PK Halder’s financial fraud.
“Share trading suspension of the company has been extended from January 8 to 22,” said the bourse in a statement on Thursday.
The DSE first suspended the trading of the company’s shares on July 14, 2019, after the Bangladesh Bank had taken the initiative to stop the activities of PLFSL due to irregularities, corruption, and mismanagement.
In June 2019, the government had directed the central bank to liquidate PLFSL due to the deterioration of its financial health in the last several years.
Following the news, investors had dumped the shares of the company in a panic.
PLFSL is one of the four NBFIs from which Proshanta Kumar Halder, infamously known as PK Halder, swindled at least Tk 3,500 crore.
In June 2019, the finance ministry had asked the central bank to shut the NBFI for its failure to improve its conditions. Meanwhile, the High Court later ordered the relevant agencies to take steps to restructure or revive PLFSL.
