Northern Jute Manufacturing Company Limited (NJMCL)The company is expecting the petition may be heard on SundayThe management of the Northern Jute Manufacturing Company Limited (NJMCL) on Sunday extended the shutdown period of its factory operation until Sunday, according to a Dhaka Stock Exchange (DSE) web post. Earlier, Bangladesh Bank on Sunday directed all banks to freeze accounts of listed company Northern Jute Manufacturing for an indefinite period. Following the directive, the company stopped its production from February 22 to February 25. The company’s management submitted a writ petition to the High Court Division on Monday, seeking a stay on freezing orders. The shares in Northern Jute closed the day at Tk382.7, down by Tk32.9 or 7.88% from Tk425 per share in the previous session on DSE.

Source: Dhaka Tribune February 26, 2020 16:30 UTC