KATHMANDU: The process of appointing the Chairman of the Securities Board of Nepal has been canceled.

The committee formed to recommend candidates for the Chairman position announced on Friday that the process has been terminated.

In a notice issued today, the committee stated that all procedures related to the appointment have been canceled.

The tenure of the former Chairman, Ramesh Hamal, ended six months ago on 21 Paush 2080. Subsequently, the government formed a committee on Magh 4, 2080 to recommend candidates for the position.

The committee called for applications on Falgun 16, receiving 19 applications by Falgun 30. On Chaitra 25, the committee shortlisted five candidates from the total applicants.

However, today, the committee announced the cancellation of the entire appointment process.