Tag: Issues

  • Government Commission Successfully Resolves Over 5,000 Usury Complaints, Returns Assets to Victims

    Government Commission Successfully Resolves Over 5,000 Usury Complaints, Returns Assets to Victims


    The Commission formed by the government to investigate and resolve cases related to usury has effectively handled 5,155 out of the 28,000 received complaints, according to Uttamraj Subedi, a Commission member and Additional Inspector General of Police. Since its inception, the Commission has facilitated the return of 218 bigha 10 kattha 7 dhur (793) to victims from usurious lenders through reconciliation.

    In their study, the Commission found documented transactions exceeding Rs 5.857 billion between victims and loan sharks. The lenders asserted a pending recovery of over Rs 1.62 billion from victims. Notably, a consensus settlement between the parties resolved transactions totaling over Rs 1.72 billion, as disclosed by the Commission.

    Victims’ applications were collected from April 30 to May 28, with 21,552 complaints registered from eight districts in Madhesh Province and 1,862 from Nawalparashi Paschim. Gauri Bahadur Karki, the Commission Chairperson, confirmed that the Commission submitted its report to the Prime Minister last Tuesday. Karki added that among the 39 districts, 29 reported cases, both registered and resolved, indicating that 39 districts had no usury problems.

    To tackle issues related to loan-sharking, the government established a three-member high-powered Commission, and the corresponding law was passed and enforced by the Parliament. The Commission’s dedicated efforts underscore a commitment to safeguarding vulnerable individuals from usurious practices.

  • “Nepal Telecom Reports 10 Lakh Rupees Recharge Card Loss, Issues Notice”

    “Nepal Telecom Reports 10 Lakh Rupees Recharge Card Loss, Issues Notice”


     

    Nepal Telecom has announced that they have experienced a loss of around 10 lakh rupees due to missing recharge cards. These cards, valued at 50 rupees each, vanished while being transported from Kathmandu to Bhairahwa. The incident was revealed by Nepal Telecom’s Wireless Services Directorate located at Babarmahal.

  • Nepal Rastra Bank Issues Rs. 20 Arba Reverse Repo for the Fourth Time

    Nepal Rastra Bank Issues Rs. 20 Arba Reverse Repo for the Fourth Time


     

    Nepal Rastra Bank (NRB) has responded to the accumulation of excess liquidity in the banking system by issuing another reverse repo. After previously issuing reverse repos on two separate occasions, NRB has now introduced Rs. 20 Arba on Tuesday. The reverse repo is a monetary tool utilized to absorb surplus liquidity and bring stability to the system. Considering there is approximately Rs. 40 Arba of excess liquidity in the system, this marks the fourth reverse repo issued by NRB during the current financial year.

     

  • Workshop on ‘Road to IPO’ Equips Corporate Houses with Legal and Financial Insights

    Workshop on ‘Road to IPO’ Equips Corporate Houses with Legal and Financial Insights


    Collaboratively organized by NIBL Ace Capital Ltd., Express Services Private Limited, and Pioneer Law Associates, a workshop titled “Road to IPO” was held to educate corporate houses about the IPO process from legal and financial perspectives. Dynamic Techno Soft Pvt. Ltd., as a sponsor, prominently displayed its banner during the event. The workshop took place on Monday, May 8, 2023, at Clark Resort in Birgunj.

    Mr. Anup Raj Upreti, Managing Partner of Pioneer Law Associates, and Mr. Sachindra Dhungana, Deputy General Manager of NIBL Ace Capital Limited, served as presenters for the session. CA Subhash Khandelwal and CA Pradeep Kushwaha played crucial roles in the successful implementation of the program.

    The workshop delved into various topics related to IPO, focusing on legal aspects, corporate governance, capital structure, IPO pricing, size, timeline, and methods. Participants from different corporate houses gained valuable insights into the different aspects of IPO.

  • Bindhyabasini Hydropower Development Company Limited Reports a 48.81% Decrease in Q3 Net Profit Due to Machinery Breakdown

    Bindhyabasini Hydropower Development Company Limited Reports a 48.81% Decrease in Q3 Net Profit Due to Machinery Breakdown


    Bindhyabasini Hydropower Development Company Limited (BHDC) has published its Q3 report of FY 2079/80, reporting a 48.81% decrease in net profit. The company’s net profit has reached Rs. 6.41 crores in this quarter compared to Rs. 12.53 crores in the corresponding quarter of the previous year. The company’s total revenue stood at Rs. 21.02 crores, with an increase in administrative expenses by 53.78% and a slight decrease in financial expenses.

    The paid-up capital of the company stood at Rs. 1.05 Arba, an increase of 40% compared to the previous fiscal year. However, the company suffered a significant decline in net profit due to machinery breakdown, resulting in a decrease in overall production and operations.

    Rudi Khola B Hydropower Project, one of the two projects operated by BHDC, had reported damages in the pipeline due to landslides experienced on Shrawan 18, 2079, while issues in the power transformer of the project had been reported on Falgun 01, 2079.

    According to the management analysis of the company, the decline in net profits was primarily due to machinery breakdown, resulting in adverse impacts on the company’s overall profitability. Despite the decline, the annualized earnings per share for BHDC stood at Rs. 8.15, while the net worth per share was Rs. 113.69.

    In conclusion, BHDC’s Q3 report highlights the adverse impact of machinery breakdown on the company’s overall operations and profitability, leading to a significant decline in net profit. The company is continuously working on resolving the issues that have caused the decline in its net profit and improving its operations to ensure stable growth in the coming quarters.

  • SEBON issues Letters of Intent to 13 new broker companies who submitted license applications.

    SEBON issues Letters of Intent to 13 new broker companies who submitted license applications.


    The Securities Board of Nepal (SEBON) has initiated the process of granting new licenses for stock brokers and dealers. Following the revision of the Securities Market Operation Regulations 2064 and the Securities Dealers Regulations 2064, SEBON announced a 30-day deadline for accepting applications for new licenses. As a result, 45 companies applied for stock broker licenses and one company applied for a stock dealer license.

    Recently, SEBON issued Letters of Intent (LOI) to 13 new broker companies that had applied for licenses. Earlier, at a board of directors meeting, 16 companies had already received LOIs. So far, 29 companies that have applied for broker licenses have received LOIs from SEBON.

    Once a new broker company receives a letter of intent from SEBON, it is required to set up its infrastructure according to the board-established standards. Following infrastructure preparation, SEBON will monitor the company to ensure that all requirements are met. If all requirements are met during monitoring, the company will be granted a license.

  • Losses for Laxmi Capital Market Mutual Fund Schemes in Chaitra Reduce; SLK’s NAV Maintains At 9.67

    Losses for Laxmi Capital Market Mutual Fund Schemes in Chaitra Reduce; SLK’s NAV Maintains At 9.67


    Laxmi Equity Fund (LEMF), a closed-end 7-year equity-oriented mutual fund scheme administered by Laxmi Capital Market Limited, showed a modest increase in NAV to Rs. 10.03 at the end of Chaitra from Rs. 9.93 the previous month.

    The plan started with a fund amount of Rs. 1.25 crore. Arba has invested Rs. 77.67 crores in publicly traded shares of several firms.

    LEMF has invested Rs. 15.36 lakh in IPOs and Rs. 5.41 crore in bonds/debentures. This mutual fund has Rs. 13.5 crores in fixed deposits and a bank balance of Rs. 27.78 crores.

    It declared a net loss of Rs. 20.17 crores until the end of Chaitra. The previous month’s loss was Rs. 21.36 crores.

  • Mai Khola Hydropower Issues 12,69,411 Units in an Initial Public Offering (IPO) to the General Public IPO Shares Will Be Available Starting Today

    Mai Khola Hydropower Issues 12,69,411 Units in an Initial Public Offering (IPO) to the General Public IPO Shares Will Be Available Starting Today


    Mai Khola Hydropower Limited will begin issuing 12,69,411 unit shares with a face value of Rs 100 today, on the 8th of Baisakh, 2080. This IPO is expected to generate Rs 12.69 crore for the firm. This issue’s early closure date is on 12th Baisakh, and if it is not completely subscribed, it can be prolonged until 24th Baisakh, 2080.

    Out of the total 15,29,411 units, 10%, or 152,941 units, have already been issued and allotted to Nepalese citizens working abroad, 2%, or 30,588 units, have been set aside for company employees, and 5%, or 76,471 units, have been set aside for mutual funds. The remaining 12,69,411 units are for general consumption.

  • The Insurance Authority Issues Licenses to Two More Micro-Insurance Companies

    The Insurance Authority Issues Licenses to Two More Micro-Insurance Companies


     

    The Nepal Insurance Authority has licensed two more microinsurance businesses.

    At its meeting on Tuesday, the authority’s board of directors voted to provide licenses to two more micro insurance companies. The authorities have given licenses to Protective Micro Insurance Ltd Nepal and Crest Micro Life Insurance Ltd.

  • Investors Association Demands SEBON Address Ten Major Issues

    Investors Association Demands SEBON Address Ten Major Issues


     

    The Investors’ Association has focused significant attention on the financial and psychological effects of the stock market on regular investors, which have been steadily declining for a long time.

    Despite the fact that over 55 lakh investors lost a total of nearly Rs. 15 Kharba following the all-time high market capitalization on August 18, 2021, the relevant authorities have remained silent on the subject.

  • Toda Sagarmatha Jalbidhyut Company Issues 35,81,760 Units IPO Shares To The General Public

    Toda Sagarmatha Jalbidhyut Company Issues 35,81,760 Units IPO Shares To The General Public


    Sagarmatha Jalbidhyut Company Limited is launching an Initial Public Offering (IPO) of 35,81,760 unit shares to the general public today, 8th Chaitra, 2079. This issue’s early closing date is on the 12th Chaitra, and if it is not fully subscribed, it can be extended until the 22nd Chaitra, 2079.

    Out of the total 43,68,000 units, 10%, or 436,800 units, have already been issued and allotted to Nepalese citizens working abroad, 5%, or 218,400 units, have been set aside for mutual funds, and 3%, or 131,040 units, have been set aside for company employees. The remaining 35,81,760 units will be available to the general public. The company’s pai

     

  • Windows 10 update causing blue screens of death — what to do

    Windows 10 update causing blue screens of death — what to do


    Some Windows users are reporting major problems with this week’s Windows 10 security update, while others are unable to install it at all.

    Since the update, KB5001330 for Windows 10 versions 20H2/2004, addresses five zero-day bugs and patches several notable remote-code-execution vulnerabilities, it’s a big deal.

    However, after the patch was released on Tuesday, users started complaining on various Internet forums that KB5001330 failed to install, resulting in issues such as never-ending boot loops and the dreaded Blue Screen of Death (BSOD).

    On the Windows 10 subreddit, one user wrote, “I modified and am stuck in a bsod loop.” Another user replied, “Same thing happened to me with KB5001330 on W10 Home 20H2 x64.” “I was able to boot after restarting with ‘Disable driver signature compliance.’”

    Some users who have successfully installed the update have reported experiencing sudden drops in game output, including graphical stuttering and unpredictable FPS drops, on the Windows 10 subreddit.

    What to do if you’re having problems with the Windows 10 update KB5001330

    If you’re worried that the new Windows 10 update will break your computer, the only thing you can do is wait until Microsoft fixes the problems. Given the seriousness of the security vulnerabilities addressed by this patch, we can only hope that the OS creator responds quickly.

    If you’ve already installed the patch and can open Windows but are still having issues, the safest way is to uninstall it and reboot your computer. Here’s how to do it step by step:

    • Launch the Windows 10 Settings app, easily found by opening the Start menu and typing “Settings”
    • Click “Update & Security”
    • Select “Windows Update” and hit “View update history”
    • Click “Uninstall updates” and select “Security Update for Microsoft Windows (KB5001330)”, then confirm when Windows asks if you’re sure
    • Reboot your PC

    If you’ve already applied the patch and your machine is still stuck in a boot loop, preventing you from opening Windows, you’ll need to take more drastic steps.

    As previously stated, some users have reportedly been able to get out of the loop by disabling driver signature compliance, which can be done by selecting Advanced Startup during the Windows 10 boot series, pressing the Troubleshoot button, then navigating to Advanced options and disabling driver signature enforcement in the Startup Settings.

    It’s still uncertain how widespread the problems caused by this update are, but this isn’t the first time Microsoft has released a Windows patch that has caused significant problems for users. Given the seriousness of the security vulnerabilities addressed by the KB5001330 updates, we can only hope that Microsoft resolves these issues quickly.