The Central Intelligence Cell (CIC) of the National Board of Revenue has requested the Registrar of Joint Stock Companies and Firms (RJSC) to immediately suspend all transactions, sales, and purchases of shares involving seven major business groups.
The companies are Basundhara Group, Orion Group, Summit Group, Beximco Group, S Alam Group, Nasa Group, and Third Wave Technologies Limited (Nagad Limited).
Once the RJSC acts on the request, these business conglomerates will be prohibited from share transactions.
Ahsan Habib, Director General of the CIC, a division of the NBR, sent a letter to the RJSC on Wednesday as part of an investigation into the financial practices by the business groups.
Citing section 223 of the Income Tax Act 2023, the letter states that tax officials are empowered to take such actions for the interim confiscation and seizure of properties suspected of tax evasion.
The ongoing investigations indicate serious allegations of tax evasion and financial irregularities against these companies, it said.
To safeguard the national interests, the CIC has requested that sales, purchases, and donations of shares by these companies be suspended.
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