2024-06-25 05:33:51
Nationwide Board of Income (NBR) Customs, Excise and VAT Appellate Tribunal President Matiur Rahman has been faraway from his submit and connected as Officer on Particular Obligation (OSD) within the Inner Assets Division of the Ministry of Finance on allegations of unlawful wealth acquisition. On the identical time, he has been faraway from the directorship of Sonali Financial institution. Anti-Corruption Fee (ACC) has shaped a committee to research the allegations in opposition to him.
Varied media have revealed information alleging that Matiur Rahman, who’s mentioned from an essential place, has constructed unlawful wealth of 1000’s of crores of rupees by way of bribery, corruption and placement share buying and selling. Nonetheless, the capital market regulator Bangladesh Securities and Trade Fee (BSEC) has not but acquired any particular grievance concerning whether or not he has dedicated any irregularities in buying and selling placement shares. In response to the fee sources, motion will likely be taken in opposition to him as per the Securities Act as soon as the grievance is acquired.
Mushfiqur Rahman Ifat, the son of Matiur Rahman, sparked dialogue when he purchased a goat from Dhaka’s Sadiq Agro for Tk 15 lakh for sacrifice. There’s a storm of dialogue and criticism within the social media and mass media. And taking all these allegations under consideration, the federal government has taken a strict stance in opposition to Matiur Rahman.
In response to the knowledge revealed in numerous media, Matiur Rahman has turn out to be the proprietor of giant sum of money each within the means of bribery and share buying and selling. Up to now, solely within the non-public placement course of, along with personal title, in 20 corporations, some shut family members together with spouse, son, daughter, sister, and a few associated corporations have details about taking shares from 2010 to 2023. The quantity of placement shares taken by Matiur within the title of himself and his family members, the nominal or precise worth of those shares is a minimum of fifty crore rupees. Besides two of those corporations, all the businesses have already been listed within the inventory market. Matiur Rahman made a revenue of tons of of crores by promoting these shares taken within the placement course of after the itemizing at a excessive value.
In the meantime, most of the shares that Motiur Rahman received within the liquidation course of are accused of falsifying the monetary stories earlier than itemizing them within the inventory market within the IPO course of. To cowl up fraud in monetary stories, NBR additionally must falsify tax and VAT paperwork. Most people who put together fraudulent monetary stories and the officers who assist on this work take shares as a substitute of bribes. On this, some huge cash is bought to the proprietor of the corporate involved. Once more, with none funding, the involved authorities officers grabbed an enormous sum of money from the inventory market with pretend shares. There have been stories in several media that there are such allegations in opposition to Motiur as properly.
In response to numerous sources, Motiur took shares within the placement course of, they’re Acme Pesticides (38 lakh shares), Onic Trims (53.19 lakh), Related Oxygen (10 lakh), Baraka Patenga Energy (75 thousand), CNATEX. (10.30 lakhs), Dominage Metal (15.80 lakhs), E-Technology (50 thousand), Fortune Suz (43.10 lakhs), Kattali Textiles (21 lakhs), Lubref (8 lakhs), Mamun Agro (37 .87 lakhs), ML Dyeing (16 lakhs), Ring Signal (10 lakhs), SK Trims (90 lakhs), Techno Medication (1.50 lakhs), Net Prices (13.97 lakhs) shares. Pacific Denim and Silva Pharma even have some shares. Amongst them, Motiur himself constructed SK Trims Firm. However other than this, it’s identified that he could have extra shares in his title.
When requested about this, Government Director and Spokesperson of BSEC Mohammad Rezaul Karim instructed RisingBD that by way of numerous newspapers and magazines, we’ve got come to know that Matiur Rahman has invested within the placement shares of many corporations. Funding of Placement Shares will not be restricted by Securities and Trade Legal guidelines, Guidelines and Laws. If privately owned corporations supply shares by way of non-public placement, investments will be made there. Nonetheless, the BSEC can look into whether or not there are any irregularities within the preliminary public supply course of (IPO) or in dealings based mostly on value delicate data of a listed firm. However BSEC doesn’t have any such data until now. No grievance on this regard got here to the fee. Nonetheless, if any particular grievance is filed in opposition to him with the Fee or any investigating company seeks data from the Fee, motion will likely be taken as per the Securities Act, if crucial.
In the meantime, capital market analyst and affiliate professor of accounting and data division of Dhaka College. Al-Amin instructed reporters that the investigation of BSEC has already proved that Matiur Rahman took 1 million shares of Ring Signal Textile. His web price is Rs 1 crore. However he didn’t pay any cash for it. So why was he given so many shares? This matter must be absolutely investigated.