The Bangladesh Securities & Exchange Commission (BSEC) issued an order directing Bangladesh Export Import Company Ltd, Beximco Pharmaceuticals Ltd and Shinepukur Ceramics Ltd to hold a board meeting within 12 days, comprising the independent directors appointed by BSEC together with the other directors. The order takes immediate effect. BSEC cited repeated failures by the companies to submit quarterly and annual audited financial statements and other securities-law disclosures, as well as failures to hold annual general meetings and to convene board meetings required for matters including dividend decisions, strategic decision-making, risk management and statutory compliance. The direction was issued under the Securities and Exchange Ordinance, 1969; BSEC also noted that the independent director appointments made on 31 December 2024 remain effective following the Appellate Division’s stay on earlier High Court stay orders. All directors, managing directors, chief financial officers and company secretaries of the three companies are instructed to ensure the meeting is completed within the specified 12-day period.
Bangladesh Securities & Exchange Commission 2026-01-15
Bangladesh Securities & Exchange Commission orders three Beximco group listed companies to convene board meetings within 12 days with BSEC-appointed independent directors
The Bangladesh Securities & Exchange Commission (BSEC) ordered Bangladesh Export Import Company Ltd, Beximco Pharmaceuticals Ltd, and Shinepukur Ceramics Ltd to hold a board meeting within 12 days, including BSEC-appointed independent directors. This follows repeated failures to submit financial statements and hold required meetings. The order, under the Securities and Exchange Ordinance, 1969, is effective immediately, with independent director appointments valid per the Appellate Division's stay.