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Stock market regulator BSEC extended the deadline for more days for submitting the probe report against alleged irregularities of Active Fine Chemicals Limited until June 30.
The decision was taken after the probe panel sought more time, the Bangladesh Securities and Exchange Commission said in a circular on Tuesday.
The due date for submitting the reports expired February 22, however.
On February 8, the BSEC opened an investigation into the poor performance and investments of Active Fine
Chemicals. The probe panel headed by BSEC Additional Director Mollah Md Miraz-Us-Sunnah has been formed and asked to report back in 15 days.
BSEC Spokesman Mohammad Rezaul Karim confirmed the development. "We want to investigate the company’s recent performance and investment. If there are any irregularities, we’ll take action as per securities rules."
Meanwhile, the stock market regulator on Monday served a show-cause notice to the company for non-cooperation with the BSEC special auditor appointed in August last year to look into the company’s suspected irregularities.
The board members of Active Fine Chemicals were instructed to appear before the commission on February 10 to explain the non-co-operation complained about by the auditor on January 12.
In August last year, BSEC appointed Howladar Yunus & Co, Chartered Accountants as a special auditor to carry out a forensic audit on the financial statements of Active Fine Chemicals. On Wednesday, its stocks rose 3.15 per cent to Tk 22.90 on the Dhaka Stock Exchange.
