KATHMANDU, Jan 14: The Securities Board of Nepal (SEBON) says it has started investigating the illegal share transactions of Ankhu Khola Jalvidhyut Company.
The chairperson and two board members of the hydropower company have been accused of carrying out transactions of the company’s shares unlawfully. The chairperson of the hydropower company Ram Shrestha and two board members—Ram Prasad Sapkota and Dinesh Prasad Shrestha-- were found selling 92,800 units of their shares within five years of their tenure period.
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According to Directives on Good Corporate Governance of Listed Companies 2017, the executives of a company cannot sell shares and debentures of the company concerned while they are holding vital posts and up to one year from the date of their retirement from the posts.
Niranjaya Ghimire, spokesperson for the SEBON, said they collected the related details of the illegal share transactions of the hydropower company and have started an investigation.
