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who bought the shares should have had supporting information.

DBA President Islam also advocated for stronger action. The DSE’s responsibility, he said, does not end with labelling companies as non-operational.

He said investor protection is a core duty of the market regulator. If firms have remained dormant for years, the DSE could have suspended trading, summoned management, explored mergers or restructuring and engaged merchant banks to assess options.

AXE FINALLY LOOMS OVER THEM

Abul Kalam, spokesperson of the BSEC, said the regulator has placed the companies under surveillance. If it finds manipulation, insider dealing or regulatory breaches, it will act.

On whether the companies will continue trading despite years of closure, he said listing and delisting are fully in the hands of the stock exchange.

“Stock exchange can delist the companies complying with listing regulations; it is their task,” he added.

Mominul Islam, chairman of the DSE, said the exchange has asked the non-operational companies about plans to resume operations. Some have replied, others have not.

“A few cited political disruptions over the past decade as the reason for closure and said they are trying to reopen factories. The DSE will allow them time,” he told The Daily Star.

For the rest, the exchange will assess whether operations can realistically resume. If not, it will review assets and liabilities before making a decision. Some companies will be delisted gradually if there is no prospect of revival, he said.