Aman Cotton directors fined Tk 3cr each

The Bangladesh Securities and Exchange Commission yesterday fined all but independent and nominated board directors of Aman Cotton Fibrous Tk 3 crore each for violation of securities rules, said the regulator in a statement.

It also fined the ATA Khan & Co, the Aman's auditor, Tk 10 lakh saying that the chartered accountancy firm violated rules by providing false and misleading information to investors and the commission.

The disclosure came following a meeting of the commission chaired by Chairman Prof Shibli Rubayat-Ul-Islam.

The Aman posted a Tk 12.59 crore profit for the financial year ending in June 2021, which was nearly three times higher than the Tk 4.87 crore of the previous year, according to its annual report.

The company was listed in 2018 and its sponsors held 72.20 per cent of shares as of December 31.