Legal notices have been issued to the governor of Bangladesh Bank and other officials to halt the transfer of Taka 230 crore worth of Novartis Bangladesh shares to Radiant Pharmaceuticals Limited. The notices highlight concerns over potential violations of the Money Laundering Prevention Act, as the sale process, initially approved under Salman F Rahman, is now being advanced by Naser Shahriar Jahedi Mohul, who is linked to the business interests of Sheikh Hasina's family.
Shares of Indian textile exporters, including Gokaldas, Trident, and Welspun, surged up to 14% as financial troubles mount for Bangladesh's Beximco Group. The Bangladeshi government plans to sell 32 struggling garment companies amid ongoing worker protests over unpaid wages, following the arrest of Beximco's Vice-Chairman. Trident saw a notable increase, with its stock rising 13.96% to an intraday high of Rs 39.27.
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