The auditor has expressed apprehension about managing or sustaining the business of Sonargaon Textile listed in the stock market. The auditor expressed this apprehension in the audit of the company’s latest 2023-24 financial statements.
The auditor said that the accumulated loss of Sonargaon Textiles on June 30, 2024 stood at Tk 143 million. In this situation, the auditor said that the company’s ability to return or sustain its business has been raised.
Bangladesh Development Bank, Rupali Bank and Mutual Trust Bank have taken legal action against this company to recover the debt. However, the company authorities are trying to waive the interest. which stopped the interest accrual against long term loans before implementation. By doing this, the cost is shown to be low.
Note that the paid up capital of Sonargaon Textiles listed in the stock market in 1995 is Tk 26 crore 47 lakhs. Of this, 55.55 percent ownership is in the hands of different categories of investors in the stock market. The company’s share price stood at Tk 22.90 on Saturday (December 07).
