Court summons top officials of Tripti Industries
Star Business Report
A court yesterday asked chairman, managing director and directors of Tripti Industries Limited to appear before it on March 30 following a case filed by the Securities and Exchange Commission (SEC).The SEC lodged the case with the Court of Chief Metropolitan Magistrate on January 7 against Tripti Industries for 'act of deceit in share sale'. The accused are Chairman Mohammad Bhai, Managing Director Mobarak Ali, directors Aziz Mohammad Bhai, Raja Mohammad Bhai, Munir Ali and Nasirullah Mirali and their agent Golam Mostafa and Associates. In its submission, the SEC said the accused lured people to buy shares of Tripti Industries Limited by showing a 100-taka share as 225-taka with a premium rate of Tk 125 on March 30, 1997. Thus they showed shares worth Tk 16-crore to be Tk 26-crore and deceived people, the plaint said. An SEC probe body, formed on November 20, 2000, found irregularity in the procedure of share sale of Tripti Industries.
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