Payment of remaining claims from Dhaka Stock Exchange Investors' Protection Fund for four defaulter TREC holder companies

BANGLADESH SECURITIES AND EXCHANGE COMMISSION
Securities Commission Bhaban, E-6/C Agargaon, Sher-e-Bangla Nagar Administrative Area, Dhaka-1207, Bangladesh.

Directive
Date: October 01, 2023

No. BSEC/SMMID/TREC-Meeting/2022/673 - Whereas Bangladesh Securities and Exchange Commission (hereinafter referred to as the "Commission") deems it appropriate that in the interest of the investors and for the development of the securities market, certain directions should be issued to Dhaka Stock Exchange Limited and the Trustee Board of Dhaka Stock Exchange Investors' Protection Fund:

Now, therefore, in exercise of the powers conferred by the section 20A of the Securities and Exchange Ordinance, 1969 (Ordinance No. XVII of 1969), the Commission hereby directs Dhaka Stock Exchange Limited and the Trustee Board of Dhaka Stock Exchange Investors' Protection Fund, namely:-

1. After verification of the claims received from BO account holders of 4 (four) defaulter TREC holder companies namely Crest Securities Limited (DSE TREC No.-008), Banco Securities Limited (DSE TREC No-063), Tamha Securities Limited (DSE TREC No.-081) and Shah Mohammad Sagir & Co. Limited (DSE TREC No.-171), the remaining amount of claims (total amount claimed minus amount already paid to the investors) of BO account holders of the above-mentioned 4 (four) TREC holder companies will be paid at pro rata basis from the Dhaka Stock Exchange Investors' Protection Fund. The amount of payment from the Dhaka Stock Exchange Investors' Protection Fund will be Tk. 25 (twenty-five) crores.

2. The cut-off date for receiving complaints/claims will be October 01, 2023. It is also mentioned that the Trustee Board of the Dhaka Stock Exchange Investors' Protection Fund shall transfer Tk. 25 (twenty-five) crores from the Dhaka Stock Exchange Investors' Protection Fund to Dhaka Stock Exchange Limited.

3. This payment does not absolve the liability of the above-mentioned 4 (four) TREC holder companies.

This shall have immediate effect.

By order of the Bangladesh Securities and Exchange Commission

(Signature)

Professor Shibli Rubayat-Ul-Islam
Chairman

Phone (PABX) : +88-02-55007131-2, Fax : +88-02-55007106, E-mail : secbd@bdmail.net, Web : www.sec.gov.bd