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Alhaj Textile, a publicly listed textile company, has been supervised by the Bangladesh Securities and Exchange Commission (BSEC). At the same time, an initiative has been taken to audit the general activities of the company. A three-member monitoring committee headed by BSEC was formed to take the necessary steps to bring the company’s activities in the interest of general investors. It is the first time that BSEC takes an initiative of this type in the case of a publicly traded company to set up an observer and a roadmap for the management of the company.
Abdullah Bokhari, former chairman of the country’s main stock exchange, Dhaka Stock Exchange (DSE), is in charge of Alhaj Textiles. BSEC has decided to appoint an observer to the company as it is against the interests of stock investors.
The BSEC says the company will not be able to sell, transfer, mortgage or convert any of its permanent or temporary assets while the regulatory body’s activities are ongoing. For this reason, the sale, transfer, sale and conversion of all types of company assets has been prohibited.
