Dhaka:The Bangladesh Securities and Exchange Commission (BSEC) has granted approval for the reconstitution of the boards of Bangladesh Export Import Company PLC (Beximco) and Shinepukur Ceramics PLC. This approval is contingent upon the withdrawal of a related legal case.
According to United News of Bangladesh, the decision was made during the commission's 1032nd meeting, held at its Agargaon office in Dhaka. The meeting was chaired by BSEC Chairman Masud Khan, and the decision was announced in a press release issued on Wednesday. The commission considered the interests of investors and other relevant factors in making this decision, following a High Court verbal directive received through a letter from its panel lawyer.
For Beximco, the BSEC approved a seven-member board. The board will include ASF Rahman as chairman (sponsor), OK Chowdhury as managing director, with Iqbal Ahmed, Ajmal Kabir, and Quamrun Nahar Ahmed as directors nominated by the sponsor group. Shah Monjurul Hoque will serve as an independent director, and an additional independent director will be appointed in accordance with the Corporate Governance Code of 2018.
Similarly, for Shinepukur Ceramics, the BSEC agreed to a seven-member board structure. ASF Rahman will also chair this board, with OK Chowdhury, Iqbal Ahmed, Ajmal Kabir, and Quamrun Nahar Ahmed serving as directors nominated by the sponsor group. Two independent directors will be appointed to comply with the Corporate Governance Code of 2018.
The commission has also decided to withdraw its earlier orders dated December 31, 2024, and January 15, 2026, once the companies withdraw the case.