Kathmandu:The federal government has decided to dismiss Bhishma Raj Dhungana, chairman of the Securities and Exchange Board(SEBON). The cabinet meeting held on Tuesday dismissed him. Dhungana, who is alleged to be involved in the share trading of the Sarbottam Cement, was asked for clarification some time ago by the cabinet meeting. After Dhungana did not give a satisfactory answer, the cabinet meeting held today finally dismissed him.
It is the first time that the chairman of SEBON has been dismissed by the government.
Dhungana had purchased Golden Shares of Sarbottam Cement in his daughter’s name, which is about to issue primary shares through book building method. Chief Executive Officer of the Nepal Stock Exchange(NEPSE) Chandra Singh Saud and Board Director Chandra Dhakal have already resigned. The government had suggested Dhungana to resign.