BSEC Fined C & A Textiles For Illigal Selling

The Bangladesh Securities and Exchange Commission (BSEC) has imposed a fine of Tk 19 crore on three director of C&A Textiles for selling their share without official announcement . The company, which entered the stock market in 2015, is currently closed . The BSEC said the three mentioned owners of the company had sold their shares in short time. And the company’s activities stopped immediately after the sale of their shares. It is clear from this information from BSEC that the owners brought the company to the stock market just to grab the money.C&A Textile’s directors Rukshana Morshed, Sharmin Akther Lovely and Bangladesh Shoes Industries Limited together sold around 1.22 crore shares of the company without prior declarations and earned around Tk 12 crore from the sales . BSEC has fined three C&A textile owners Tk 14 crore for illegally making a profit of Tk 12 crore .

In order to reduce the burden of past sin The new commission of BSEC headed by Professor Shibli Rubayat Ul Islam  fined the owners of C&A textiles. But already all of the owner escaped Bangladesh .

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