Bangladesh Securities and Exchange Commission (BSEC) has decided to give no objection to the reconstitution of the boards of Bangladesh Export Import Company PLC (Beximco) and Shinepukur Ceramics PLC, subject to the withdrawal of a related case.

The decision came at the commission's 1032nd meeting held at its Agargaon office in Dhaka and chaired by BSEC Chairman Masud Khan, according to a press release issued Wednesday.

The commission said it took the decision after being informed, through a letter from its panel lawyer of the High Court's verbal directive, and after considering the interests of investors and other relevant issues.

Beximco

On the company's application, the commission also approved a seven-member board, comprising: ASF Rahman as chairman (sponsor), OK Chowdhury as managing director, Iqbal Ahmed, Ajmal Kabir and Quamrun Nahar Ahmed as directors, all nominated by the sponsor group, Shah Monjurul Hoque as independent director.

One more independent director will be appointed in line with the Corporate Governance Code, 2018.

Shinepukur Ceramics

Responding to the company's application, the BSEC agreed to a seven-member board.

The proposed structure includes: ASF Rahman as chairman (sponsor), OK Chowdhury, Iqbal Ahmed, Ajmal Kabir and Quamrun Nahar Ahmed as directors, all nominated by the sponsor group.

Two independent directors will appointed in compliance with the Corporate Governance Code, 2018

For both companies, the commission also decided that its earlier orders, dated December 31, 2024 and January 15, 2026 will be withdrawn once the companies withdraw the case.