SEBON Chairman Bhisma Raj Dhungana sacked

KATHMANDU: The government has removed Securities Board of Nepal (SEBON) Chairman Bhisma Raj Dhungana from his post on Tuesday.

A Cabinet meeting held this afternoon decided to remove Dhungana from the post of SEBON Chairman.

The Commission for Investigation of Abuse of Authority (CIAA) started an investigation against Dhungana after he was found involved in insider trading.

The issue came to light after Dhungana was found buying the shares of Sarbottam Cement in his daughter’s name.

The government removed Dhungana on the basis of a report submitted by the committee formed to carry out investigation.

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Dhungana had bought 12,000 shares in the name of his daughter Rebika who is currently residing in the United States. Because of which he had to furnish clarification to the Finance Committee.