CMDA fines Dhiraagu

Dhiraagu has been fined by the Capital Market Development Authority (CMDA), following failure by Dhiraagu to publish its financial statements for the final quarter of 2012.

CMDA said today that Dhiraagu was fined MVR 30,000 today because it failed to publish its financial statements for Q4 of 2012 before the deadline, 30 April 2013.

CMDA said that Dhiraagu was notified to publish its statements before the end of official work hours on 15 May 2013.

It has not yet been possible to contact Dhiraagu to get their comment on this matter.

Article 7 of the regulation on disclosure obligations of issuers of security states that security issuers shall publish their quarterly reports on the website within 30 days after the end of each quarter.