SC issues interim order on appointment of SEBON Chairperson

The Supreme Court today issued an interim order over the appointment procedures of the Chairperson of the Securities Board of Nepal (SEBON).

The government on June 28 decided to rescind all the procedures undertaken so far regarding the selection of the SEBON Chair and a writ was registered at the apex court challenging the government’s move.

A single bench of Judge Abdul Aziz issued a show cause order in the name of the government, summoning both parties for discussions on July 5, according to SC Spokesperson Gobinda Ghimire.

The Committee formed to recommend the SEBON Chair’s appointment decided to cancel the process citing that three, out of five shortlisted for the appointment, were absent in an interview.

Santosh Narayan Shrestha, one of the candidates on the shortlist, moved the court against the decision.

The government has already formed a new committee to recommend for the appointment by including the members from the previous committee.