Hasib fined Tk 1 crore for cultivating fish in waterless ponds
September 19, 20242 Mins Read
Jumbangla Desk: ASM Hasib Hasan, Managing Director of Hami Industries (formerly known as Imam Baton), a listed company in the capital market, showed in the financial report that he made a profit by farming fish in the pond. But later found out that there is no water in the pond! Haseeb Hasan, who is 'fishing in a dry pond', has to pay fine for share manipulation.

Hasib

Capital market regulator Bangladesh Securities and Exchange Commission (BSEC) fined MD Hasib Hasan Tk 1 crore due to Imam Button's share manipulation. This decision was taken in the 921st commission meeting today, Wednesday.

BSEC Chairman Khandkar Rashed Maksud presided over the meeting. After the meeting, the director and spokesperson of the organization, Farhana Farooqui, gave this information in a circular.

According to the notification, Hasib Hasan has violated the Securities Act due to the manipulation of the shares of Imam Button Industries Limited listed in the capital market. For this, it has been decided to fine him one crore taka.

According to information, Haseeb Hasan had shown in the financial report of Hami Industries that he had made a profit by leasing ponds in his area. But a private television's on-the-ground report shows that fishing and profit from it is far from there, there is no water in the pond!

Meanwhile, in the same meeting, seven more individuals and one organization were fined for their involvement in share manipulation.

According to the notification, Sahara Zaman and his partner Ashfakuzzaman have been fined 250,000 and a total of 500,000 rupees due to the manipulation of shares of Karnaphuli Insurance Company Limited in violation of the Securities Act. City Bank Capital Resources Limited was fined Tk 10 lakh for share manipulation of the same company.

Apart from this, M. Lutful Goni Titu of City Bank Capital Resources and his associate Md. Mahmudul Hasan and owners of Benju food store Khairul Hasan Benju, Lutfunnahar Begum and Akikunnahar have been fined a total of Tk 500,000 each.

Earlier, in June and July of this year, BSEC fined three individuals and four companies Tk 1 crore 82 lakh for their involvement in share manipulation. Although no fines were imposed last August, 9 companies and 28 individuals were warned. Source: Today's newspaper