Kathmandu – The Nepal Securities Board is preparing not to open new applications for the new stock exchange, but to grant a license to one of the companies that had previously applied.

The board has moved forward with the licensing process after the Cabinet’s decision on 5 Poush to proceed with the licensing process for the new stock exchange reached the Securities Board.

Earlier, a case was filed in the Supreme Court alleging that there was ‘fraud’ for the license when Himalayan Stock Exchange, National Stock Exchange and Annapurna Stock Exchange applied for the new stock exchange at the board. After that, the Cabinet meeting led by the then Prime Minister Pushpa Kamal Dahal Prachanda directed to stop the process for the time being on 26 Baisakh 2080, and the new stock exchange process was stopped.

The Himalayan Stock Exchange, which has applied, has investments from industrialist Shankar Group Chairman Shankarlal Agrawal, Golchha Organization’s Shekhar Golchha, industrialists Pashupati Murarka, Bhawani Rana, Rajendra Khetan, Satishlal Mor, Bivek Dugad and Saurabh Jyoti. Ashish Shrestha, Juni Gurung and Deepak Bhatta also have investmented in the company.

Similarly, the National Stock Exchange has investments from non-resident Nepalese Upendra Mahato, Jiva Lamichhane, Kul Acharya, Badri KC and industrialist Manoj Kedia.

Similarly, Ganesh Kumar Shrestha, Surendra Raj Wagle, Muktibodh Neupane, Anil Sapkota, Prakash Kumar Shrestha, Shekhar Subedi, and Balram Upreti are as directors in the Annapurna Stock Exchange.