DHAKA: The High Court rejected three writ petitions filed against the Securities and Exchange Commission (SEC) directive on minimum shareholding.
The authorities of SEC said next course of actions will be taken after getting the order copies in hand.
An SEC press release signed by its’ executive directors and spokesperson Saifur Rahman disclosed the matter Thursday.
The news release said the SCE decided that sponsors, promoters and directors must hold two percent stake in their companies by individual directors and 30 percent by sponsor-directors together.
Some directors filed writ petitions against SEC directive. The High Court rejected the writ petitions. So, the SEC issued directive is sustained now.
The release also stated that SEC would take actions after getting the copies of the order in hand.
Some five other writ petitions are under HC procedure and SEC has taken necessary steps to settle those soon.
BDST: 1610 HRS, MAY 24, 2012
Edited by: Abul Kalam Azad, Newsroom Editor, M. Mahbub Alam, Asst Output Editor
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