Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Supreme Court has issued a show cause order in the writ filed against the Securities Board of Nepal (SEBON) alleging that the names of 51 companies whose share prices have risen abnormally have been made public.
The apex court has refused to issue an interim order as per the writ petitioner’s demand.
Hearing the writ today, Judge Kumar Chudal’s single bench has issued show cause order. The SEBON had made public the list of 51 companies saying that they were manipulating to increase the share price. Advocate Rabin Bohaju had filed a writ petition in the Supreme Court against this.
Although the petitioner demanded to issue an internal order, the order of the apex court states that the order should not be issued as the action of the SEBON has not affected the undisputed right of the petitioner.
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