KATHMANDU, Oct 4:  The three candidates who were shortlisted for the appointment for the post of Securities Board of Nepal (SEBON) Chairman were summoned to Singha Durbar for interviews and presentation of work plans on Friday. However, the interview and presentation of work plans of these three candidates did not take place even on Friday.

According to a source, the interview and presentation of the work plan have been stopped due to the absence of Dr Shivaraj Adhikari, the coordinator of the SEBON Chairperson Recommendation Committee, as well as  three candidates. It is reported that the interview of the candidates has been halted due to the illness of Dr Adhikari.

The candidates called for interviews were Navaraj Adhikari, executive director of SEBON, Chiranjibi Chapagain, former chairman of Nepal Insurance Authority and Krishna Bahadur Karki, the chief executive officer of the Nepal Stock Exchange (NEPSE).

Earlier, the government had established a new recommendation committee to initiate a new process, after the chairman’s name could not be recommended. A candidate on the selection list, Santosh Narayan, filed a case at the Supreme Court, claiming that there was no legal provision to initiate the new process.

In response, the court issued an interim order not to initiate the new process. Following the court’s order, the appointment of the chairman was resumed through the previous process and the government summoned three candidates for interviews again.

SEBON has been without the chairman since January 5, 2024. Mahesh Baral, who currently represents the SEBON Directors from the Ministry of Finance, has been holding the responsibility of the SEBON chairman. However, most SEBON activities, including public expulsions, have been adversely affected. 

 
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