BM Desk : An inquiry committee has been established by the Bangladesh Securities and Exchange Commission (BSEC) to look into the possible share manipulation of Sonali Ansh Industries Limited, an exporter of jute goods that is listed on the stock exchange.
The committee will investigate all of the issues, including the fiscal year 2023–2024 financial report. The committee has been given sixty days to finish the probe and report back to the commission.

The committee was established in the final week of June to look into the company’s share manipulation, according to BSEC sources. The committee’s three members are Dhaka Stock Exchange (DSE) Manager Saiful Islam, BSEC Assistant Director Rezaun Noor Mehedi, and BSEC Joint Director Mohammad Zahirul Haque.

The committee will look into a number of claims pertaining to Sonali Ansh shares, according to sources. These include claims of insider trading, serial trading, manipulating share prices, and inflating demand for the company’s stock during the 2023–2024 fiscal year. The committee will examine the company’s financial statements for the fiscal year 2023–2024 in addition to these matters. As part of the investigation, other financial records and related documents might be looked at if needed.

Additionally, according to the source, there is a claim that phony shares were issued under the name of investor Motahar Hossain. The corporation did not comply with the BSEC’s directive to dematerialize these shares. Rather, the court has granted the corporation a six-month stay order.