30 directors of 3 listed firms fined Tk60 lakh

The stock market regulator has slapped a total of Tk 60 lakh fine on 30 directors of three listed companies for violating securities rules.
The Securities and Exchange Commission (SEC) slapped a Tk 2 lakh fine on 21 directors of Rupali Insurance each for noncompliance with the securities laws in connection with preparing audited financial statements for the year ended on December 21, 2006, Dhaka Stock Exchange said in a web posting on Sunday.
The Rupali Insurance directors who were fined are Chairman Mostafa Golam Quddus, Managing Director PK Roy and directors Mohammed Ali, Md Shamsul Huda, Mujibur Rahman, Md Nazim Uddin, Md Ali Ahmed, Md Younus, KM Farookh, Md Mizanur Rahman, Abu Hena, Kazi Maniruzzaman, Jinnat Ali Mian, Runa Haider, Fazlutun Nessa, Mostafa Quamrus Sobhan, Mostafa Golam Arman, Mostafa Golam Sarwar, Aftab Ahamed, Md Sirajul Huq and Fauzia Quamran Tania.
Four directors of Fine Foods were fined Tk 2 lakh each for violating securities rules in connection with preparation of audited financial statements for the year ended on June 30, 2006.
The directors who were fined are Chairman Sujit Shaha, Managing Director Md Shaheen Quarashi and directors Md Humayan Kabir Majumdar and Md Iqbal Ahmed.
The market watchdog also slapped a fine of Tk 2 lakh each on five directors of Maq Paper for noncompliance with securities laws in connection with preparation of audited financial statements for the year ended on December 31, 2006.
The directors are Chairperson Sufia Quasem, Managing Director MA Quasem and directors AQM Mahbubul Alam, Quasem Rab and KG Zilani.