In the stock market, false information is given as income and expenditure for share manipulation of various companies. So that investors are interested in the company’s shares. Much like that happened with Gambling Item Gemini Seafood. The auditor found incorrect information as to the income of the company.
The auditor gave this information in the audit of the financial accounts of the company for the financial year 2023-24.
The auditor said that the company has shown income or product sales of Tk 655.4 million in the financial year 2023-24. But the amount of VAT paid by the company authorities does not match with the sale amount, there is a discrepancy.
As the reason for this, the company authorities told the auditor the fraction of the dollar rate. But the auditor could not be sure.
The company has suffered a loss of Tk 2.30 per share in the 1st quarter of the current financial year due to share manipulation. In the same period of the previous financial year, the profit was 0.62 taka.
It should be noted that Gemini Sea Food, which was listed in the stock market in 1985 with a paid-up capital of Tk 10 crore 68 lakh, is owned by various categories of investors (excluding entrepreneurs/directors) in the stock market at 69.99 percent. On Tuesday (December 17), the company’s share price stood at Tk 172.40.
