CEO of Samudayik Laghubitta, Swoyambhuram Joshi, fined Rs 5 lakh for violation of NRB act 2058

Thu, May 10, 2018 7:35 AM on Latest,

The current CEO of Samudayik Laghubitta Bittiya Sanstha Mr. Swoyambhuram Joshi has been punished based on the Board’s Meeting held on Poush 11, 2074 for allegations concerning violation of NRB act 2058. The allegations include numerous violations including not following the bank’s directives, creating hindrances in implementation of the directives, not implementing the company’s decisions, irrespective of the regulatory body’s direction, a person holding higher shares of the company than stated sitting on the position of CEO and so on.

The defendant is fined for an amount of Rs. 5 lakh following two chances given to Mr. Joshi for clarification in his defense.