KATHMANDU: The Supreme Court has issued a show cause order in the case of suspended Securities and Exchange Board Chairperson Bhishma Raj Dhungana.
The court ordered the government to provide reasons for suspending Dhungana.
Hearing the writ petition filed by Dhungana after his suspension, a single bench of Justice Kumar Regmi issued a show cause order in the name of the government.
A cabinet meeting held on September 1 had formed a three-member committee under the chairmanship of former High Court Judge Ananta Raj Dumre to investigate the share transaction done by the chairperson of the board. Narayan Prasad Poudel and Joint Secretary of the Nepal Law Commission Arjun Kumar Khadka are the expert members of the team formed by the government.
Dhungana was suspended from his post as soon as a committee was formed to investigate. After suspension, he had filed a writ petition in the Supreme Court on September 8.
Dhungana is being investigated for illegally buying shares of the Sarbottam Cement in the name of his daughter.
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