The Capital Market Journalists’ Forum (CMJF) has condemned a lawsuit filed against its member and former joint general secretary Md Ibrahim Hossain Rajowan, calling it a retaliatory move over a report on alleged irregularities in the capital market.
NRB Equity Management Limited filed the case with the Dhaka Chief Metropolitan Magistrate’s Court on 10 March 2023 over a report published on 11 January that alleged fraud, corruption and misappropriation of funds through false information involving the company.
In a statement, CMJF President Md Munir Hossain and General Secretary Ahsan Habib said the case was “false, motivated, harassing and retaliatory”, claiming it was an attempt to suppress media freedom and discourage reporting on capital market irregularities.
The report concerned Associated Oxygen Limited, which was listed on the stock market in 2020 under NRB Equity Management’s issue management services. CMJF said the report highlighted allegations of irregularities in the listing process, including placement trade and forged signatures in the prospectus.
Ten days after the report was published, the Bangladesh Securities and Exchange Commission (BSEC) formed a three-member investigation committee on 21 January to examine the allegations.
CMJF said the committee had already submitted its investigation report and that the matter was currently under review by BSEC’s enforcement department for further action.
The forum said any organisation or individual who found errors or inconsistencies in a published report could seek redress through a rejoinder, correction request or complaints before designated legal and professional forums.
“Instead, filing a criminal case against a journalist and seeking an arrest warrant is clearly aimed at intimidating the journalist and his family and discouraging truthful reporting,” the statement said.
CMJF said free and independent journalism was essential for ensuring a transparent and accountable capital market and pledged continued support for its members facing harassment or injustice.
Obaidur Rahman, office secretary of CMJF, issued the statement.
