Dhaka Stock Exchange, Over the Counter (OTC), Tulip Diary & Food Products Limited has been cheating the investors for over 12 years.
The company has registered its name on DSE 30 years ago. But from the past 12 years, the company is not paying any dividends to its shareholders. Gonoshasthaya Nagar Hospital Trustee Dr. Zafrullah Chowdhury’s company is Tulip Diary. The given address of the company are the same as the Tulip Diary, this information is affirmed from their related sources.
The employee of the Gonoshasthaya Nagar Hospital told that for long time Dr. Zafrullah’s Tulip Diary office was here. Recently the office of the company has been shifted to the address of Gonoshasthayanagar Hospital in Savar. Sandhya Roy is the current chairman of the company.
Regarding this issue, Sandhya Roy told Orthosongbad, the office is located in Savar. But the firm is closed from the last 12 years, as Orthosongbad asks before closing the firm, were they declare any dividends, she replied that ‘maybe before it declares slight diivdends and I am not so sure’. Regarding another question, Roy said Tulip Diary will leave DSE future soon, and give back the invest to the investors.
An anonymous person from Tulip Diary said that the previous board of directors had looted the company. The company is trying to stand back around after the chairman and other posts were reshuffled. arriving at the office of Tulip Dairy, it was seen that the company’s activities are going on. But the company’s production has been stopped – claimed by the employee.
From another question, if Dr. Zafrullah still the owner of Tulip Diary, another anonymous employee replied, he is not in direct ownership of the company, since Tulip Dairy is a subsidiary of Gonoshasthayanagar Hospital, he is indirectly in ownership.
It is known from 1990 Tulip Diary was registered on DSE and the company share price was last traded 28 taka. And when the last time they declared dividends, there is no trace of it on the DSE website. Even the chairman of the company does not know about it.
According to DSE sources, the paid-up capital of Tulip Dairy and Foods Products Limited is Tk 2 crore 39 lakh. The total number of shares of the company is 2 lakh 39 thousand. About half of these are ordinary investors.
In 2018, it earned Tk 3.82 paisa. This was known from DSE Website. The company earned over 9 lakh taka that year. However, Tulip Dairy and Foods Products has not paid any dividends to the investors. Apart from the 2018 data, there is no data on the company’s earnings on DSE.
In 1990, no data has been found that it has paid dividends to investors since its listing on DSE. While common investors have 49.17pc shares in the company. The remaining 50.83pc shares are held by the founders and directors of Tulip Dairy and Foods Products. Ordinary investors, who own about half of the company’s shares, have been deprived for ages. Tulip Dairy, which has deprived investors for a long time, is now looking to exit the DSE.
