The hearing will now be held on October 4 in the commission's boardroom, SEC sources said.

Earlier on September 12, the stock market regulator issued a show-cause notice to Jamuna Bank, its directors, managing director and the company secretary for concealing information from the commission regarding transfer of shares, and asked the officials to be present at a hearing.

The commission issued the notice to the bank and its top officials accusing them of furnishing the regulatory body with certain incorrect information and concealing some important relevant material information from it at a time when initial public offering (IPO) of Jamuna Bank was being considered.

The SEC in the show-cause notice mentioned that the board of directors of the bank in its meeting on November 27, 2005 had approved transfer of 14 sponsor directors' shares to 23 persons but did not inform the commission about the decision despite the legal binding to do that.

Earlier on August 31, the capital market watchdog also made a halt to transactions of about 11 lakh shares of Jamuna Bank worth about Tk 30 crore held by 30 sponsor directors, as the commission found the directors' involvement in insider trading and price manipulation of shares.