सिंहदरबार संवाददाता
Kathmandu. Former Finance Minister Barshaman Pun has questioned Finance Minister Bishnu Prasad Poudel about the manipulation of the interest group in the license of the new stock exchange. He questioned Finance Minister Poudel, saying that he was hesitating to issue licenses for limited intermediaries.
In the meeting of the House of Representatives, he said, “I am seeing the Honorable Finance Minister. Matters have come from the Securities and Exchange Board of Nepal to restructure the Nepal Stock Exchange. But the restructuring is not happening. It seems that he is hesitating to issue licenses for the new stock exchange. Interest groups have shown their interests in this. The people know. The Nepal Stock Exchange should be restructured and made sustainable. And when the day comes, arrangements should be made to go to the private sector through competition. The public is vigilant about this.”
Former Minister Pun has been saying that middlemen have proposed the Securities and Exchange Board of Nepal (SEN) chairman and the new stock exchange license. Regarding the permission for new stocks, former Prime Minister and CPN-Maoist Chairman Pushkamal Dahal had said that the government was going to grant permission for new stocks in the interests of middlemen, a matter that was not envisaged by the law.
A case has been filed in the Constitutional Bench of the Supreme Court, saying that the process of granting licenses for new stocks is not in accordance with the law. Law student Krishna Bahadur Thapa filed the case on Poush 23, alleging that there was a legal error in distributing new stock licenses. The next hearing of the case with registration number 081-wc-0035 has been scheduled for Falgun 21.
The first hearing was scheduled for Magh 21, but the hearing could not be held due to lack of time. Now, the writ petition is being heard on Falgun 21 in a bench headed by Chief Justice Prakash Man Singh Raut of the Supreme Court. The senior-most judges in the constitutional bench headed by the Chief Justice are Sapana Pradhan Malla, Kumar Regmi, Dr. Manoj Kumar Sharma and Dr. Kumar Chudal.
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 writ claims that the Board has issued the ‘Directive on Providing Recommendations by the Board for Establishing a Corporate Organization for Operating the Securities Market, 2079’ using its power not provided by law. Since the directive is in conflict with Section 118 of the Securities Act, 2063, the directive on providing recommendations by the Board for establishing a corporate organization for operating the securities market, 2079, has been demanded to be quashed.
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