The Bangladesh Securities and Exchange Commission has fined Delta Spinners Tk 10 lakh on charge of violation of different rules of Bangladesh Accounting Standards.
According to a Dhaka Stock Exchange web post published on Monday, Delta Spinners in its financial statement did not disclose the information of revaluation of the company’s fixed assets violating BAS-16.
The company did not provide true and fair view of the company’s financial situation which is another violation of BAS-1.
The company also violated sub-section 2 of section 12 of Securities
and Exchange Rules-1987 and Section 18 of the Securities and Exchange Ordinance-1969.
-With New Age input
