KATHMANDU: Securities Board of Nepal (SEBON) Chairman Santosh Narayan Shrestha has resigned from his post. He announced his resignation during a Board of Directors meeting on Friday.
As per the Securities Act, the board chairperson must submit the resignation to the Government of Nepal. Accordingly, Shrestha has informed the Finance Minister of his decision to step down, a board director said.
Following the meeting, Shrestha briefed board members that he was resigning to facilitate the government’s work.
He was appointed Executive Chairman of the Securities Board on November 25, 2024.
The same meeting also decided to seek clarification from Himalayan Securities, Broker No. 96, according to a board director. The decision comes after allegations that Deepak Bhatta and Shahil Agarwal were involved in illegal share trading, prompting the board to initiate an inquiry and request a formal explanation from the brokerage firm.
Shrestha had recently been linked to an ongoing money laundering investigation involving Bhatta, and authorities had reportedly urged him to step aside and cooperate with the probe.
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