KATHMANDU, July 3: The Supreme Court has extended the short-term interim order it issued earlier in response to a writ petition filed after the government canceled the appointment process of the chairman of the Securities Board of Nepal (SEBON).

A joint bench of justices - Sapana Pradhan Malla and Balkrishna Dhakal - extended the interim order issued earlier by a single bench of Justice Abdul Aziz Musalman. Last Tuesday, the bench issued a short-term interim order against the new process of selecting chairman for SEBON in response to a writ petition filed by Santosh Narayan Shrestha.

The joint bench comprising Malla and Dhakal upheld the decision of the single bench on Friday.

A total of 19 individuals had submitted applications for the post of SEBON Chairman. However, only five candidates were shortlisted for the interview. 

Out of these five, three individuals did not turn up for the interview. As per the existing legal provision, the name of at least three individuals must be recommended for the appointment.

As only two individuals attended the interview, the Ministry of Finance sought the opinion of the Office of the Attorney General.

Prime Minister Puspha Kamal Dahal then instructed the Coordinator and a member of the Recommendation Committee as well as the Finance Secretary to “make their positions clear.”

Following the instructions of the PM, the Vice Chairman of the National Planning Commission (NPC) Dr. Min Bahadur Shretha and member Udaya Niraula  supported the recommendations while Finance Secretary Madhu Marasini opposed application of recommendation. The committee eventually decided to cancel the ongoing process, leading the government to form another committee by giving continuity to the same members.

 
• SEBON_Chairman_appointment