KATHMANDU: In a judgment on a writ filed to halt the issuance of new stock exchange and broker licenses, the Supreme Court emphasized the imperative for action in cases of political corruption linked to the allocation of broker licenses.

The court’s decision, detailed in the judgment, scrutinizes the swift introduction of the fourth and fifth amendments to the Securities Business Regulations 2064 by the Council of Ministers.

The judgment poses critical questions about the necessity and priority of these amendments, seeking explanations on why they were introduced among various decisions made by the Government of Nepal’s Council of Ministers.

It questions whether these decisions were influenced by specific interest groups, raised in haste, or strategically timed before upcoming elections.

The court order explicitly challenges the lack of clarity in the government’s written responses regarding the motivations behind the amendments.

It underscores the need for thorough investigations by relevant authorities to address concerns about potential political corruption and urges action in accordance with the law against those found responsible.

The court’s statement points out that the rapid implementation of amendments without transparent justifications naturally raises suspicions of self-interest disguised as policy decisions.

While the petitioner claims corruption based on objective evidence, the court stresses the importance of a comprehensive investigation by authorized bodies to either substantiate or refute these claims.

The order concludes with a stern warning, stating that if investigations reveal intentional political corruption in the amendments’ initiation, all individuals involved will be prosecuted in accordance with the law.

The Supreme Court emphasizes the need for continued vigilance and attention to this matter as investigations unfold.