सिंहदरबार संवाददाता
Kathmandu. The Ministry of Finance has written a letter to the Securities and Exchange Board of Nepal (SEBN) for the implementation of the report on distributing new stock licenses. According to ministry sources, the ministry wrote a letter to the board a few days ago to implement the report.
The Council of Ministers had approved the implementation of the report prepared by the committee led by former Deputy Governor Chintamani Siwakoti on December 25. Despite the decision of the Council of Ministers, the Ministry of Finance had been refusing to write the letter for one and a half months.
Finance Secretary Dr. Ram Prasad Ghimire had kept the file on hold for almost one and a half months after the decision of the Council of Ministers was made to include only employees. Similarly, Revenue Secretary Dinesh Ghimire also did not agree to write a letter to the board. Sources claim that the two secretaries took the time to write the letter to the Securities and Exchange Board of Nepal (SEBON) and reached a good agreement with some agencies.
The source told Singha Durbar, “Both secretaries were forced to write the letter after being threatened by the middleman that they would be transferred if they did not write the letter to the board for a long time. It is not difficult to understand that a big agreement was reached since the secretaries, who initially refused to write the letter out of fear of the authorities, later wrote the letter secretly.”
The Securities and Exchange Board of Nepal (SEBON) has moved ahead with the work of issuing licenses even before the opening of the House of Representatives meeting. The ruling and opposition MPs are making speeches saying that there is a game of billions in the distribution of new stock licenses. President Ram Chandra Poudel has been summoning the parliament since Magh 19.
The Commission for the Investigation of Abuse of Authority is currently summoning and taking statements from high-level employees of the board, alleging corruption in the Securities and Exchange Board of Nepal. According to a source in the commission, preparations are underway to file a case in a special court within a few days.
A case has been registered in the Constitutional Bench of the Supreme Court, alleging that the process of distributing new stock licenses went beyond the legal framework. In the case, a demand has been made to postpone the entire process of licensing the new stock exchange.
Law student Krishna Bahadur Thapa filed a case on Monday (February 23) alleging that there was a legal error in distributing the new stock license. The case has been registered under writ number 081-wc-0035.
The writ petition states that the Nepal Securities Board is trying to establish a corporate body to operate the securities market by misinterpreting Section 118 of the Securities Act, 2063. The hearing of this case has been fixed for Falgun 21.
The Board has issued a guideline on providing recommendations, 2079 BS, and the Board has issued a guideline on providing recommendations for establishing a corporate body for operating the securities market, 2079 BS. Since the guideline is in conflict with Section 118 of the Securities Act, 2063 BS, it has been demanded to cancel the guideline on providing recommendations for establishing a corporate body for operating the securities market, 2079 BS. .
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