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Wednesday, October 20, 2021
    Nepal Stock ExchangeNEPSE NewsSEBON Chairman Bhisma Raj Dhungana removed from his position

    SEBON Chairman Bhisma Raj Dhungana removed from his position

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    Bhisma Raj Dhungana, the chairman of the Securities Board of Nepal (SEBON), was ousted his position by the government on Tuesday.

    A Cabinet meeting convened this afternoon agreed to remove his position as Chairman of the SEBON board of trustees.

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    After it was discovered that was involved in insider trading, the Commission for the Investigation of of Authority (CIAA) launched an investigation into his conduct.

    It was discovered that had purchased shares of Sarbottam in his daughter’s name, which brought the situation to light.

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    In response to a report by a committee established to conduct an investigation, the government removed from his position.

    had purchased 12,000 shares in the company in the name of his daughter Rebika, who is currently residing in the United States of America. As a result, he was required to provide explanation to the Finance Committee on the matter.

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