DHAKA : Dhaka Stock Exchange (DSE) issued show-cause notice to the Managing Director (MD) and Chief Financial Officer (CFO) of capital market enlisted Janata Insurance Co Ltd.
Earlier on Monday, the board of directors of DSE stayed all kind of share transaction of the company for an indefinite period.
Earlier in 2010, the board of directors of Janata Insurance Co Ltd declared 15 percent of stock dividend for its shareholders. But, they did not approve it in Annual General Meeting (AGM).
Later in 2011, they recommended 10 percent of stock dividend for its shareholders without getting approval for their previous dividend, and it is completely violation of DSE rules and regulations.
Legal step will be taken against Janata Insurance after proper investigation, said DSE source.
This information was disclosed in DSE website on Tuesday.
BDST: 1634 HRS, MAY 14, 2012
Edited by: Abdul Momin Khan, Newsroom Editor
Maria Salam, Asst Output Editor
M. Mahbub Alam, Asst Output Editor
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