Dhaka, Bangladesh (BBN) – The Securities and Exchange Commission (SEC) formed an inquiry committee on Monday to probe into the alleged anomaly occurred at the IPO lottery draw of Deshbandhu Polymer Limited, officials said.

The SEC body comprising director Kamrul Alam Khan and assistant director Rajib Ahmed will submit the report by January 14.

The securities regulator formed the committee after an IPO (initial public offering) applicant has claimed that his shares were not credited into his account, despite he was allotted shares.

Liakat Ali Khan, the company secretary of Deshbandhu Polymer, said the open lottery was conducted by BUET and there is nothing to hide.

The IPO lottery draw of Deshbandhu Polymer was held at the Banghabandhu International Conference Centre in Dhaka on November 23 this year.

BBN/SI/SSR=28Dec10-1:47 am (BST)