Thanks to the fallouts of the coronavirus pandemic, which had taken a toll on many garment manufacturing companies already, Nurani Dyeing & Sweater Ltd. or NDSL, which is a 100 per cent export-oriented company dyeing yarn, knitting of various types of sweater manufacturer, after just three years of being listed in the Dhaka Stock Exchange (DSE), has fallen into financial hardships.
Media reports maintained this while adding that a DSE team recently visited the factory premises and the head office of the said entity but, reportedly, found both the premises closed.
It may be mentioned here that as per reports, the company turned into a loan defaulter last year following which a bank, reportedly, sent a legal notice asking it to repay the loan as early as possible even as in its financial report for 2016-17, NDSL, reportedly, mentioned that it had defaulted on Taka 16 crore in a short-term loan from AB bank even if according to its latest financials, its term loan, reportedly, amounted to Taka 56.86 crore up to FY20, which was Taka 39.77 crore in the previous year while it also has a Taka 8.15 crore short-term loan from Agrani Bank Ltd. as well.
Meanwhile, speaking to the media, a DSE official on condition of anonymity, reportedly, maintained that every information, which reflects the company’s financials, has to be published as PSI but the NDSL did not do that.
