Kathmandu. A hearing has been scheduled on Wednesday (Baishakh 17) on a writ petition filed regarding the law prohibiting profit exceeding 20 percent.
The Supreme Court had issued an interim order in the name of the government on Baisakh 10. The government had amended the law prohibiting profit exceeding 20 percent through the ordinance, saying it would create a business-friendly environment. After the law was changed, an interim order was issued in the name of the government in a writ petition filed in the Supreme Court.
A single bench of Justice Saraga Subedi issued an interim order in a case registered by senior chartered accountant Bheshraj Luitel.
Both sides were called for discussion on Wednesday (Baishakh 17). The Prime Minister’s Office has increased its alertness after the interim order was issued in the name of the government. Sources claim that the Prime Minister’s Office has instructed government lawyers to make strict preparations, saying that the game has gone wrong. A high-ranking source told Singha Durbar, “The Prime Minister’s Office has called the Attorney General’s Office and asked them to make strict preparations to find out where the game went wrong. The Prime Minister’s Office is also studying how the case came to be.”
The Black Market and Certain Other Social Offenses and Punishment Act, 2032, was published in the Nepal Gazette on 2081/09/29 through an ordinance and amended in Section 3(1) dated 2081/11/21, which stated that no more than 20% profit could be taken. The Supreme Court has already issued an interim order not to implement that provision immediately.
The ordinance has been passed by the House of Representatives and on 2081/11/22 and by the National Assembly. The Supreme Court has issued an interim order, showing reasons, not to implement the act immediately.
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