Kanchan Sapkota Appointed as Acting CEO of CDS and Clearing Limited

The Board of Directors of CDS and Clearing Limited (CDSC) has appointed Kanchan Sapkota as the Acting Chief Executive Officer. This decision was made during a board meeting held on Sunday, following the removal of the previous CEO, Purna Prasad Panthi (often referred to in administrative records by his official designations).

According to CDSC spokesperson Suresh Neupane, Sapkota has been given the responsibility to lead the organization on an interim basis to ensure that daily operations continue without interruption. The move comes after the Nepal Stock Exchange (NEPSE), the parent organization of CDSC, decided to relieve the former head of his duties.

CDS and Clearing Limited is a vital institution in Nepal’s financial sector, acting as the central depository for shares. It is responsible for the electronic registration and safekeeping of securities, as well as the clearing and settlement of trades made on the stock exchange.

To provide further context from official financial reports, CDSC operates under the regulation of the Securities Board of Nepal (SEBON). The leadership change occurs at a time when the Nepali capital market is seeing a push toward further digitalization, including the enhancement of the "Mero Share" portal, which is used by millions of investors to apply for Initial Public Offerings (IPOs) and manage their portfolios.

Industry experts and official records from NEPSE suggest that such leadership transitions are aimed at improving administrative efficiency and strengthening the governance of the country's sole depository system. Sapkota, who has been an internal part of the management team, is expected to maintain stability in the clearing systems while the board initiates the process for a permanent executive appointment.