The authorities of Dhaka and Chittagong stock exchanges will apply to become parties to fight legal battle against a writ petition, which was filed challenging a regulatory directive on mandatory shareholding by the directors of listed companies.
During a meeting with the Securities and Exchange Commission (SEC), the presidents of the two bourses expressed their interest in this regard to safeguard the interest of small investors.
DSE President Rakibur Rahman and CSE President Al Maruf Khan held the meeting with SEC Chairman M Khairul Hossain to discuss the ways to contest the writ filled by a group of directors of some listed firms.
“In public interest, both the DSE and CSE will apply to become parties to the writ.”, Maruf Khan told reporters after the meeting.
Earlier, a group of directors of listed firms filed a writ petition with the High Court against the SEC's directive on holding minimum two percent shares of the listed companies by their directors and sponsors individually.
During a meeting with the Securities and Exchange Commission (SEC), the presidents of the two bourses expressed their interest in this regard to safeguard the interest of small investors.
DSE President Rakibur Rahman and CSE President Al Maruf Khan held the meeting with SEC Chairman M Khairul Hossain to discuss the ways to contest the writ filled by a group of directors of some listed firms.
“In public interest, both the DSE and CSE will apply to become parties to the writ.”, Maruf Khan told reporters after the meeting.
Earlier, a group of directors of listed firms filed a writ petition with the High Court against the SEC's directive on holding minimum two percent shares of the listed companies by their directors and sponsors individually.