DSE wants special court

BUSINESS-RELATED CASES
DSE wants special court
Law minister Shafique Ahmed on Wednesday suggested that the parties may avoid delayed disposal of their cases if they resolve business-related disputes through arbitration instead of moving to court.
Shafique Ahmed made the suggestion when a delegation of Dhaka Stock Exchange led by its president Rakibur Rahman met the minister at the secretariat in Dhaka, meeting sources said.
DSE urged the law minister to form a special court on capital market to deal with irregularities in the sector.
The law minister assured the delegation that proper attention would be given to the capital market-related cases so that these could avoid legal tangle and investors’ interest was protected.
He asked the DSE authority to provide him with a list of companies having stay order from the higher court on holding their annual general meetings.
Harassment of investors due to internal feud of boards of directors of companies must be stopped, he said. If there is an internal feud, company directors should go to the Securities and Exchange Commission, the stock market regulator, first for a solution to avoid lengthy legal procedure, he suggested.
The law minister told the DSE delegation that he would sit with the attorney general, and representatives of Bangladesh Bank, SEC and DSE soon to find a way out of the problem.
DSE president asked the law minister to form a special court on capital market to deal with irregularities in the sector.
He pointed out that problems the capital market was facing were harassment of investors due to internal feud of boards of directors of companies, indecision in providing dividend on the mutual funds and deliberately bracketing the good companies in low profile ‘Z’ category shares.
The special court can play a crucial role in strengthening the capital market, he said.

Courtesy of NewAgebd