Bangladesh, Sept. 17 -- The market watchdog has slapped an aggregate fine of Tk 51 million on the chairman, directors and senior officials of Dominage Steel Building Systems for failing to properly utilise IPO proceeds, deviating from the approved utilisation plan and providing false information.

Advertisement The Bangladesh Securities and Exchange Commission (BSEC) imposed a fine of Tk 10 million each on Chairman Muhammad Shamsul Islam, directors - Sujit Saha, Rakibul Islam and Abul Kalam Bhuiyan - and Managing Director Engr. Mohammad Rafiqul Islam.

Former CFO Md. Zillur Rahman and former company secretary Md. Jamir Hosen Chowdhury were fined Tk 0.50 million each.

The BSEC ordered the individuals to pay the fines from their own capac...