But, it was found that there is no such company registered in Germany, capital market sources said.

The capital market regulator directed the Dhaka and Chittagong bourses to suspend the trading of ISN, a Z-category share.

Trading of ISN, an IT firm, will remain suspended until further instruction for disseminating confusing information, the DSE (Dhaka Stock Exchange) said yesterday in its website.

The Securities and Exchange Commission will form an inquiry committee to investigate the issue.

Earlier, the DSE asked the consul office in Germany for information on Rettenwender & de Rooy and its existence in Germany.

The consul office in a reply letter said there is no registered company named Rettenwender & de Rooy. Rather, the consul office found a company named Rettenwender & de Rooy, which is registered in Wakefield, UK.

When contacted, SM Iqbal, managing director of ISN, said Rettenwender & de Rooy is a new company registered in Cardiff, UK having permission to do business in Munich, Germany.

"We have asked the company to provide a copy of permission regarding doing business in Munich," Iqbal also said.

On June 10, the DSE in its website said ISN has signed an exclusive partnership agreement on software development with 'Rettenwender & de Rooy Limited' having its office located in Munich, Germany.