Chandra Dhakal resigned from SEBON member

KATHMANDU: AUGUST 25 – Chandra Dhakal has resigned from the post of member of the Securities Board of Nepal (SEBON).

Dhakal, senior vice president of the Federation of Nepalese Chambers of Commerce and Industry, became a member of the board representing the federation.

However, Dhakal was criticized for playing a double role in the board of directors of some of the companies he operates.

He has written a letter to Chairman Shekhar Golchha saying that he will no longer be a board member. After Dhakal leaves the board, the federation will have to send another person to represent the board.

The shares of Sarbottam Cement, which is preparing to issue an IPO through the book building method, were bought in the name of his brother when he was a member of the board.

Chief Executive Officer (CEO) of the Nepal Stock Exchange, Chandra Singh Saud, resigned from his post on Tuesday after a dispute over his involvement in the purchase of shares of the best cement company.

SEBON chairman Bhisma Raj Dhungana, who was involved in the case, said he had not made a mistake and would not resign. He has been saying that he will go to court if he is dismissed from the post.