The ownership transfer of prominent companies, including the fintech brand Nagad Limited (owned by Third Wave Technologies Limited), and industry giants in the telecom and energy sectors such as Summit Group, along with Bashundhara, Orion, Beximco, S Alam, and Nassa Group, has been requested to be suspended.
The National Board of Revenue (NBR) has sent a letter to the Joint Stock Companies and Firms, requesting the suspension of share transactions for these companies. On September 29, Ahsan Habib, Director General of the Central Intelligence Cell (CIC) of the NBR, formally submitted this request to the Registrar of Joint Stock Companies.
The letter specifically calls for the suspension of share transfers, including sales and donations, for these companies. It cites Section 223 of the Income Tax Act, 2023, which empowers the NBR to take necessary actions to prevent tax evasion, including the interim freezing or seizure of assets. According to ongoing investigations, serious allegations of tax evasion and financial irregularities have been raised against these companies, prompting the request to halt their ownership transfers.
