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New Vice Chairman elected

2 more DSE councillors resign: EGM June 25

By Rafiq Hasan
A Dhaka Stock Exchange Council meeting yesterday elected Abdul Haq as its new Vice-Chairman and fixed June 25 for holding an Extraordinary General Meeting (EGM)
Two DSE councillors,Khwa-ja Abdul Quddus and Khurshid Alam, submitted their resignation letters immediately after the meeting at noon Final decision on their resignation will be taken at the next board meeting of the DSE likely to be held within a week. Honorary Secretary General of the bourse Shahiq Khan told The Daily Star after the meeting
A section of DSE members and general investors have been demanding removal of all councillors who have been charged in the share market scam cases
Asked why he resigned from
the council body although he was not accused by the probe committee, Khwaja Abdul Quddus said. "I resigned to help reorganise the board, hd^lng that it would bring a positive result by Inducting better people into the (DSE) board. "
Three other councillors — Raquibur Rahman. AG Azam Chowdhury and vice-chairman Ahmed Iqbal Hasan — resigned earlier. DSE Chairman Imtiaz Hossain was removed by a no-confidence motion at the last board meeting after he declined to resign
Hossain subsequently gave a letter to the DSE challenging the legality of his removal.
When contacted last night. Hossam said, "I wanted to know whether it was done according to the DSE constitution. If it is
not so, 1 will go to the court".
He said he had discussed the matter with some top lawyers of the country who told him it would be a very interesting case.
According to Hossain, the only legal way to replace the council body is to hold an early election. "I had also tried to hold an early election within 30 days but they did not give me the scope,'' he added.
Talking to this correspondent. the newly elected DSE chairman. M A Huq Howlader. admitted that Hossain has submitted a letter, but said its purpose was to seek leave from attending the council meeting since he was still a member of the DSE. Howlader declined to make any further comment in this regard.
Shanlq Khan said Hossain's letter was not discussed at the board meeting yesterday. "Imtiaz Hossain came to the DSE in the morning and submitted a letter to our executive director but I do not know what Its contents were," he said.
Interim DSE Chairman Abdul Huq Howlader and Honorary Secretary General Sha-hiq Khan are the only elected members of the 12-member council. There are three government-nominated members. Two of them — Anil Chandra Nath and Nurul Amin Patwary — attended yesterday's meeting, which was the first sitting after Hossain s removal.