Khulna Printing board members, officials fined Tk24 lakh over rules violation

The securities regulator has fined the chairman, directors and top officials of listed company Khulna Printing and Packaging Limited for violating various securities laws and regulations. 
The regulator imposed a total monetary penalty of Tk24 lakh on six responsible officials of the company.
The information was confirmed by sources from the enforcement division of the Bangladesh Securities and Exchange Commission (BSEC). The accused individuals are Chairman S M Amjad Hossain, Director Md Amjad Hossain, Khan Habibur Rahman, Managing Director Sufia Khatun, CFO Ezaz Uddin, and Company Secretary Milon Khan.
According to the investigation committee, the company has been incurring losses for the past three consecutive years. 
As a result, it now falls into a situation where it may come under the BSEC’s prescribed “exit plan.” The company’s retained earnings have turned negative, standing at Tk99.46 crore, which exceeds its paid-up capital of Tk73.04 crore—indicating a weak financial foundation.
For these irregularities, the six officials have each been charged under multiple provisions. Each individual has been fined Tk1 lakh per violation. As the penalties were imposed under four separate provisions, the combined fine for the six individuals amounts to Tk24 lakh.
Sources said the fine amount must be paid within 30 days. Otherwise, further legal action will be taken against them.