Hearing on Ncell share sale case postponed

Published On: December 17, 2023 04:30 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Dec 17: The legal representatives of House of Representative member Amresh Kumar Singh, who has been awaiting for a hearing on the case against Ncell’s share sale at the Supreme Court for a week, have themselves postponed the hearing.

As the writ petition against Ncell was scheduled to be heard by the single bench of Justice Sushma Lata Mathema, the petitioner's lawyers adjourned the proceedings.

Justice Mathema had 15 cases on her bench today, with the Ncell case listed as number 7. The hearing could have taken place today if the petitioner's legal representative had not adjourned the case.

The writ petition against Ncell's share purchase and sale case had been pending for a week without being scheduled for a hearing. The petition was filed last Friday and was not listed for hearing from Sunday to Friday.

The dispute revolves around Malaysia's Axiata Company, which, seven years ago, purchased 80 percent of Ncell's shares for Rs 144 billion. Recently, Axiata sold the shares to Spectrolite UK, a British company with a Nepali founder, for a total of Rs 6.65 billion.

MP Singh filed a writ petition, alleging that the shares of Ncell were bought and sold in an opaque manner that has harmed the country and distorted the legal process.

Previously, the Patan High Court halted the share buying and selling process in response to the writ petition filed against Ncell. According to the order of the Patan High Court, Ncell is not allowed to sell shares.

In the writ petition, MP Singh filed against the Office of the Prime Minister and Council of Ministers, the Ministry of Communications and Information Technology, the Nepal Telecommunications Authority, the Office of the Company Registrar, the Inland Revenue Department, and Ncell.


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