Finance Committee requires NTA to submit Ncell share transaction documents in 15 Days

Nepal's parliamentarians call for accountability in Ncell share transaction, urge explanation from Acharya and Axiata CEO Sood

KATHMANDU: Finance Committee has directed the Nepal Telecommunication Authority to provide documentation pertaining to the acquisition and divestment of Ncell shares. During Wednesday’s session, the committee summoned the authority’s chairman, Purushottam Khanal, along with other officials, mandating them to submit the relevant purchase and sale records within a 15-day timeframe.

Purushottam Khanal, the Chairperson of the Nepal Telecommunication Authority, pointed out a legal challenge in bringing Ncell Axiata to court. During the committee meeting, he clarified that Ncell has three layers of CEOs, and there is currently no legal provision within Nepal’s Telecommunications Act to address the matter.

He stated that if there were a legal provision to bring the CEO of Ncell to court, the authority could promptly proceed with legal action. However, he emphasized the absence of such a legal provision and highlighted the challenges faced when attempting to draft and pass legislation through the parliament.

Fiscal Nepal |
Wednesday December 6, 2023, 05:12:43 PM |

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