Guru Neupane Faces Insider Trading Charges: Prohibited From Serving As Director of Any Public Company For 10 Years

According to the Securities Board of Nepal (SEBON), Guru Neupane cannot serve as a director of any public company for the next 10 years. SEBON’s investigation into Neupane's insider trading has been confirmed, and in accordance with section 101(7) of the Securities Act of 2063, Neupane has also been fined Rs. 75,000.

Guru Prasad Neupane, Chairman of Ridi Power Company Limited (RIDI), was indicted last month on allegations of illegally trading of shares. Due to his trading of shares while serving on the company's board, he had already been found guilty.

The board had asked for an explanation and had decided to take action against it. A clause prohibits trading in shares of the associated company for at least a year by anyone who is currently on the board of directors of the company or has resigned from the board. They aren't even allowed to act in the family members' names.