Alif Group to acquire C&A Textiles | The Business Standard
Skip to main content
  • Epaper
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Wednesday
May 28, 2025

Sign In
Subscribe
  • Epaper
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
WEDNESDAY, MAY 28, 2025
Alif Group to acquire C&A Textiles

Bangladesh

Rafiqul Islam
07 October, 2021, 10:35 pm
Last modified: 08 October, 2021, 01:28 am

Related News

  • C&A Textiles to merge with Alif Industries
  • Global fashion retailer C&A warns C&A Textiles of legal action for using same name
  • Alif Industries now allowed to issue new shares to help C&A Textiles
  • C&A Textiles begins trial production after long closure
  • C&A Textiles reborn

Alif Group to acquire C&A Textiles

The group will have to take initiatives to overcome all liabilities of the textile manufacturer and take steps to bring the company back to production

Rafiqul Islam
07 October, 2021, 10:35 pm
Last modified: 08 October, 2021, 01:28 am

Alif Group – a business conglomerate in the country – will acquire C&A Textiles, which has been out of operation for more than four years.

The Bangladesh Securities and Exchange Commission (BSEC) recently accepted the acquisition proposal "in the greater interest of investors" and issued seven instructions for the group to comply with.

After the acquisition, the group will take initiatives to cover and meet gas and utility bills as well as bank liabilities of the textile manufacturer.

It will also have to take the steps needed to bring C&A Textiles back into production.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

C&A Textiles – a 100% export-oriented knit composite company – was in knitting, dyeing, printing, and manufacturing various types of readymade garments for export to Europe, America, Canada, the UK, Italy, and Germany.

Alif Group has a strong presence in the textile, garments, financial services, and real estate sectors.

The group's two companies – Alif Manufacturing Company Ltd, previously known as CMC Kamal Textile Mill Ltd, and Alif Industries – are listed on local stock exchanges.

According to BSEC conditions, Alif Group will have to comply with all securities laws in raising capital, issuing new shares and bonds.

The group will regularise all the pending annual general meetings and audited financials of Alif Industries and Alif Manufacturing.

It will have to retain C&A Textiles' share money deposits or collected money in a bank account separate from the rest of the Alif Group, using that only to meet bank liabilities and start production at C&A Textiles.

C&A Textiles history in the stock market

C&A Textiles raised Tk45 crore from the capital markets with an Initial Public Offering (IPO) in 2015.

According to its prospectus, the company paid Tk30.87 crore towards loan repayments and business expansion.

In June 2017, C&A Textiles announced a sudden shutdown of production for renovation work, and its offices have remained closed since then.

In February 2021, BSEC restructured the underperforming company's board, appointing seven directors.

C&A Textiles was incorporated in 2001 and started commercial operations in 2003.

In March 2021, police arrested C&A Textiles' managing director (MD), Rukshana Morshed, in a case filed for money laundering.

Union Capital had filed the case in 2019 against the company's bosses, including the MD.

In the interest of investors, Dhaka Stock Exchange (DSE) officials visited the company factory in Kalurghat, Chattogram, and the company's headquarters in 2019, but found both premises closed.

On 29 July 2020, BSEC found that C&A Textiles' MD, Rukshana Morshed, Director Sharmin Akther Lovely, and Bangladesh Shoes Industries Limited had together sold around 1.22 crore shares of the company without prior declaration, taking around Tk12 crore from these sales.

As a penalty for violating several rules, the securities regulator later fined them Tk19 crore and banned them from assuming the roles of directors at any other listed company.

Moreover, the textile company could not submit a single directors' monthly shareholding report between August 2017 and August 2018, and also breached rules by failing to respond to queries sent by BSEC and DSE.

Shareholders have also received no updates about the company since 2017.

The last time the company declared a dividend for its shareholders was in 2016.

According to shareholding data released in July 2017, the owners' shares in the company amounted to only 22.14%.
 

Top News

Alif Group / C&A Textiles Ltd

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Inflation, exchange rate shocks to intensify fiscal pressure in FY26
    Inflation, exchange rate shocks to intensify fiscal pressure in FY26
  • Leaders and activists of BNP gather at Nayapaltan ahead of the rally of three BNP affiliated organisations on Wednesday, 28 May 2025. Photo: TBS
    BNP, Jamaat rallies: Traffic likely to clog Dhaka roads, including Shahbagh, Nayapaltan, Kakrail
  • Jamaat-i-islami leader ATM Azharul Islam get out of jail on 28 May 2025. Photo: Focusbangla
    Jamaat leader ATM Azharul walks out of jail after acquittal in war crimes case

MOST VIEWED

  • Selim RF Hussain. Sketch: TBS
    BRAC Bank MD Selim RF Hussain resigns
  • Bangladesh Bank Governor Ahsan H Mansur. TBS Sketch
    Depositors need not worry as govt will take over banks before merger: BB governor
  • Graphics: TBS
    Suspicious banking activities surge by 56% since July: Cenbank
  • Photo: Collected
    DU student assaulted for protesting eve-teasing at Chadni Chowk
  • Illustration: TBS
    Bangladesh sees highest-ever per capita income of $2,820 in FY25, BBS provisional data shows
  • Officials protest inside the Secretariat on Tuesday, 27 May 2025, over a government ordinance amending the Public Service Act, 2018. Photo: Rajib Dhar
    Protest at Secretariat suspended as govt assures decision on ordinance tomorrow

Related News

  • C&A Textiles to merge with Alif Industries
  • Global fashion retailer C&A warns C&A Textiles of legal action for using same name
  • Alif Industries now allowed to issue new shares to help C&A Textiles
  • C&A Textiles begins trial production after long closure
  • C&A Textiles reborn

Features

In recent years, the Gor-e-Shaheed Eidgah has emerged as a strong contender for the crown of the biggest Eid congregation in the country, having hosted 600,000 worshippers in 2017. Photo: TBS

Gor-e-Shaheed Boro Maath: The heart of Dinajpur

1d | Panorama
The Hili Land Port, officially opened in 1997 but with trade roots stretching back to before Partition, has grown into a cornerstone of bilateral commerce.

Dhaka-Delhi tensions ripple across Hili’s markets and livelihoods

2d | Panorama
Photo: Collected

Desk goals: Affordable ways to elevate your study setup

2d | Brands
Built on a diamond-type frame, the Hornet 2.0 is agile but grounded. PHOTO: Asif Chowdhury

Honda Hornet 2.0: Same spirit, upgraded sting

2d | Wheels

More Videos from TBS

What did Jamaat leader ATM Azhar say after being released from prison?

What did Jamaat leader ATM Azhar say after being released from prison?

9m | TBS Today
How can we protect Dhaka’s rivers and canals from plastic waste?

How can we protect Dhaka’s rivers and canals from plastic waste?

2h | TBS Programs
Jamaat leader ATM Azhar released from prison after 13 years

Jamaat leader ATM Azhar released from prison after 13 years

2h | TBS Today
Trump delays 50% tariffs on EU goods

Trump delays 50% tariffs on EU goods

13h | Others
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net