Chandra Dhakal steps down from Sebon board director

KATHMANDU: Chandra Prasad Dhakal has resigned from the post of Securities Board of Nepal (SEBON) board director after being dragged into the controversy over the Sarbottam Cement being prepared to issue shares through book building system.

Dhakal is an ex-officio director on behalf of the Federation of Nepalese Chambers of Commerce and Industries. The federation will nominate another member to replace Dhakal, who is the senior vice-president. Dhakal has asked FNCCI President Shekhar Golchha to send other members in his place.

As per the source from FNCCI, Anjan Shrestha will be the replaced to Dhakal on behalf of the federation. Shrestha is vice president of the federation.

Some of the Dhakal family members have owned the Sarbottam Cements promoter shares. The company’s shares were disputed after it was revealed that Bhishma Raj Dhungana, chairman of the SEBON, had bought the shares in the name of his daughter.

Chief Executive Officer of Nepal Stock Exchange (Nepse) Chandra Singh Saud, who was involved in the same scandal, had resigned from his post on Tuesday. He bought some Sarbottam Cements shares in his wife’s name.