KATHMANDU, July 2: The Supreme Court has issued an interim order preventing the government from canceling the appointment process of the chairman of the Securities Board of Nepal (SEBON).

A single bench of Justice Abdul Aziz Musalman issued the order on Tuesday responding to a writ petition filed by candidate Santosh Narayan Shrestha, opposing the government’s decision to cancel the selection process.

The bench also issued a show-cause order to the Office of the Prime Minister and Council of Ministers and other concerned parties.

This interim order has halted the government’s decision to cancel the SEBON chairman appointment process and called on both sides to put forth their arguments on whether to uphold or revoke the cancellation.

Last week, the recommendation committee, chaired by National Planning Commission Vice Chairman Min Bahadur Shrestha, canceled all procedures related to the SEBON chairman's appointment after three out of five shortlisted candidates did not attend the presentation and interview. The committee decided to cancel the process, arguing that it requires the recommendation of at least three candidates for the appointment of SEBON chairman.

Shrestha’s writ petition argues that the cancellation was unlawful and requests the continuation of the appointment process as originally planned under the Securities Board Act. 

 
• SC