BSEC to probe business status of two OTC companies
BI Report || BusinessInsider
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The market regulator, Bangladesh Securities and Exchange Commission (BSEC), has formed two separate inquiry committees for Paragon Leather and Footwear Industries Limited and Mark Bangladesh Shilpa and Engineering Limited, which are part of the Over the Counter Market.
According to BSEC sources, the two committees, consisting of three members each, were formed on Sunday.
The committees will look into the overall situation, including the ownership and finances of the two companies.
The two companies are included in the OTC market of Dhaka and Chittagong Stock Exchanges.
Sirajul Islam Chowdhury, deputy director of BSEC, has been made the head of the investigation committee of Paragon Leather and Footwear Industries Limited.
On the other hand, Deputy Director Mohammad Ratan Mia has been made the head of the investigation committee of Mark Bangladesh Shilpa and Engineering Limited.
In addition, BSEC has revoked the transfer of shares of Khaza Mosaic Tiles & Stone Industries Limited, another OTC company.
The company applied to BSEC on June 14 for a change of ownership. But the commission, considering the overall issue, did not approve the transfer of shares to the entrepreneur-directors of the company.
