BSEC asks for freezing of C&A Tex’s, Tung Hai Knitting’s bank accounts | 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

Thursday
May 29, 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
THURSDAY, MAY 29, 2025
BSEC asks for freezing of C&A Tex’s, Tung Hai Knitting’s bank accounts

Stocks

Salah Uddin Mahmud
18 August, 2020, 09:35 pm
Last modified: 18 August, 2020, 09:43 pm

Related News

  • Berger Paints gets BSEC approval to issue rights shares
  • BSEC slashes BO account fee by Tk300
  • BSEC to Hold meeting with retail investor representatives on 29 May
  • What finance adviser tells TBS about NBR split, BSEC chair removal
  • Merchant bankers renew plea for extension of provisioning deadline till 2030

BSEC asks for freezing of C&A Tex’s, Tung Hai Knitting’s bank accounts

The stock market regulator issued a letter to the central bank in this regard on Tuesday

Salah Uddin Mahmud
18 August, 2020, 09:35 pm
Last modified: 18 August, 2020, 09:43 pm
Bangladesh Security Exchange Commission at Agargaon. File Photo
Bangladesh Security Exchange Commission at Agargaon. File Photo

The Bangladesh Securities and Exchange Commission (BSEC) has asked the Bangladesh Bank to freeze all the bank accounts of all the directors, including the managing directors, of C&A Textiles Ltd and Tung Hai Knitting & Dyeing Ltd.

The stock market regulator issued a letter to the central bank in this regard on Tuesday.

The regulator took this decision at its commission's meeting recently, sources said.

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

Earlier, the commission fined both the companies' shareholder directors and managing directors for trading shares without making a declaration.

Rukshana Morshed, managing director of C&A Textiles Ltd, sold 79 lakh shares without a declaration and made Tk6.98 crore profit. 

Also, its Shareholder Director Sharmin Akter Lovely sold 30 lakh shares without any declaration and made Tk3.61 crore profit.

Bangladesh Shoe Industries Ltd, another shareholder director of the C&A Textiles, also sold 0.13 crore shares without any declaration to make a profit of Tk1.59 crore.

These directors violated the commission's two directives, which were made on July 14, 2010, and November 22, 2011.

The company's operations were closed with the sale of these shares. They were also absent from the commission hearing in this regard. When the C&A did not reply to the Dhaka Stock Exchange's (DSE) queries, a DSE team visited the factory and found it under lock and key.  

For violating the securities law, the commission fined Managing Director Rukshana Morshed Tk8 core, Shareholder Director Sharmin Akter Lovely Tk4 crore and the Bangladesh Shoe Industries Ltd Tk2 crore.

The penalised directors cannot remain as directors of any other listed companies.

For violating the securities law, the commission also fined all the directors of C&A Textiles, except the independent ones, Tk1 crore each.

The company also failed to submit its monthly shareholding report as per law from August 2017 to August 2018.

The company was listed on both the stock exchanges in 2015.

Meanwhile, Tung Hai Knitting & Dyeing also failed to submit its monthly shareholding report. 

The company also did not reply to the DSE's query letter. Later, a DSE team visited the factory but found it locked down. 

For violating the securities law, the commission then fined each of the company's directors, excluding the independent ones, Tk1 crore. Directors who were fined will not be able to serve as directors at any other listed company. 

The company was listed on both stock exchanges in 2014.

Economy / Top News

BSEC / C&A Textiles Ltd / Tung Hai Knitting & Dyeing 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

  • BNP Chairperson Khaleda Zia virtually addressing an event on 29 May 2025, marking the death anniversary of BNP founder and former president Ziaur Rahman. Photo: Screengrab from BNP Media Cell video.
    Democracy still being obstructed at every step: Khaleda Zia
  • CEC AMM Nasir Uddin. File photo: UNB
    Waiting for SC verdict copy for review before deciding on Ishraque's oath: CEC
  • News of The Day, 29 MAY 2025
    News of The Day, 29 MAY 2025

MOST VIEWED

  • Dhaka areas at a gridlock on Wednesday, 28 May 2025. Photo: Syed Zakir Hossain/TBS
    BNP, Jamaat rallies: Traffic clogs Dhaka roads, including Motijheel, Paltan, Dainik Bangla intersection
  • IFIC Bank receives Tk6,000 cr in new deposits in six months
    IFIC Bank receives Tk6,000 cr in new deposits in six months
  • Mohammad Abdul Mannan, chairman FSIB Ltd. Sketch: TBS
    FSIB to bounce back soon
  • Abdul Awal Mintoo, chairman of National Bank Limited. Sketch: TBS
    'Regulatory support must for National Bank to restore depositors' confidence'
  • Md Nazrul Islam Swapan, chairman of EXIM Bank. Sketch: TBS
    Exim Bank restored depositors’ confidence, overcoming challenges
  • Mohammad Mamdudur Rashid, managing director and CEO, UCB. Sketch: TBS
    Customers’ trust and confidence fueling deposit growth at UCB

Related News

  • Berger Paints gets BSEC approval to issue rights shares
  • BSEC slashes BO account fee by Tk300
  • BSEC to Hold meeting with retail investor representatives on 29 May
  • What finance adviser tells TBS about NBR split, BSEC chair removal
  • Merchant bankers renew plea for extension of provisioning deadline till 2030

Features

For hundreds of small fishermen living near this delicate area, sustainable fishing is a necessity for their survival. Photo: Syed Zakir Hossain

World Ocean Day: Bangladesh’s ‘Silent Island’ provides a fisheries model for the future

1h | The Big Picture
The university will be OK. But will the US? Photo: Bloomberg

A weaker Harvard is a weaker America

1h | Panorama
The Botanical Garden is a refuge for plant species, both native and exotic. Photo: Mehedi Hasan/TBS

The hidden cost of 'development' in the Botanical Garden

1h | Panorama
Stillbirths in Bangladesh: A preventable public health emergency

Stillbirths in Bangladesh: A preventable public health emergency

1h | Panorama

More Videos from TBS

News of The Day, 29 MAY 2025

News of The Day, 29 MAY 2025

30m | TBS News of the day
Businesses set for relief as interim govt eyes major tax & fine cuts

Businesses set for relief as interim govt eyes major tax & fine cuts

3h | TBS Insight
Love is essential for human life

Love is essential for human life

2h | TBS Programs
What Should Be the Interim Government’s Budget Priority?

What Should Be the Interim Government’s Budget Priority?

1h | TBS Economy
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