Supreme Court clears way for Ncell profit repatriation
December 25, 2017 12:30 PM NPT
KATHMANDU, Dec 25: The Supreme Court cleared the way for telecom company Ncell to repatriate its dividend from Nepal on Sunday. A division bench of Justices Om Prakash Mishra and Kedar Prasad Chalise allowed repatriation of profits earned by Ncell.
The government had barred dividend repatriation until the issue of capital gains tax related to Ncell buyout deal was settled. Stating that obstruction of dividend repatriation would adversely affect the company and its shareholders, the court directed the government authorities not to obstruct the process.