House panel directs govt to take action against SEBON Chair, NEPSE CEO

KATHMANDU: The Finance Committee of the House of Representatives has decided to take action against Securities Board of Nepal (SEBON) Chairman Bhisma Raj Dhungana and Nepal Stock Exchange (NEPSE) Chief Executive Officer Chandra Singh Saud for taking unfair advantage of their position while purchasing the shares.

A meeting held in Singha Durbar on Friday directed the government to take action against the duo for misusing their position by buying shares in the names of their relatives.

The Committee had summoned both of them for discussion after it came to know that Chairman Dhungana and CEO Saud bought the shares of Sarbottam Cement in the name of daughter and wife respectively.

During the meeting, Dhungana said that he bought shares in the name of his married daughter and Saud that as he is a Nepali citizen, the law would not barred him from buying and selling shares.

Lawmaker Ram Kumari Jhakri, during the meeting, demanded resignation of Dhungana and Saud for their involvement in insider trading and other malpractices.

The Finance Committee formed a probe committee comprising Finance Secretary Madhu Kumar Marasini and Joint Secretary Dirgha Raj Mainali for investigation.

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