Kathmandu, April 17: Santosh Narayan Shrestha, Chairperson of the Nepal Securities Board, has resigned from his position. He announced his decision during a board meeting held on Friday.
According to the Securities Act, the board chair must formally resign from the government. A board member said Shrestha has stated that he will submit his resignation to the Finance Minister on Saturday.
After the meeting, Shrestha told fellow board members that he chose to step down to support the government, the board member added.
The government had appointed Shrestha as Executive Chairperson of the Securities Board on November 26, 2024.
The same meeting also decided to seek clarification from Himalayan Securities, also known as Broker No. 96. The board took this step after finding the firm allegedly involved in illegal share transactions linked to Deepak Bhatt and Shahil Agrawal.
Shrestha’s resignation comes after his name was dragged into an ongoing money laundering investigation involving Bhatt. The government had urged him to resign to facilitate the probe, leading to his decision to step down.
People’s News Monitoring Service
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