Padma Cement to be liquidated

Padma Cement is going to be liquidated over its prolonged non-performance as the first company of the over-the-counter (OTC) market, officials said.
The company's move on the liquidation comes following an order of the High Court (HC).
The officials of the Dhaka Stock Exchange (DSE) have said the shareholders earlier filed a case with the HC seeking its order in a bid to pay out their due benefits of all shareholders.
"This is the first company which will be liquidated as per the court's order," said a DSE official.
The DSE Wednesday requested all shareholders to contact with official liquidator of Padma Cement with proper documents before March 21, 2014.
The address of official liquidator: Mr. M. Moksadul Islam, Barrister-at-Law, Official Liquidator, Padma Cement Limited, 3/A, Sonartori Tower, 12 Sonargaon Road, Banglamotor, Dhaka-1000.
Presently, there are 68 companies, which were earlier de-listed from the main bourse due to non-performing situation, in the OTC market.
After the liquidation of the Padma Cement, the number of the companies in the OTC market will stand at 67.