Aman Cotton directors fined Tk 3 crore

Staff Reporter: The directors of Aman Cotton Fibers Limited, a listed company, have been fined Tk 3 crore for irregularities. The decision was taken at the 708th meeting of the Bangladesh Securities and Exchange Commission (BSEC) on Thursday, January 13.

According to the BSEC, it has been decided to impose a fine of Tk 3 crore on each director of Aman Cotton Fibers Limited for violating the Securities Act. However, independent directors will be exempt from fines. At the same time, the commission has been asked to cancel the license of permanent deposit of Tk 63 crore and inform the commission within seven working days.

Confirming the matter, the commission’s executive director and spokesperson Mohammad Rezaul Karim said the director of Aman Cotton Fibers has been fined for various irregularities. Aman Cotton’s auditing firm Etikhan & Company has also been fined Rs 10 lakh.

Source: Daily StockBangladesh by

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