Ncell Submits Share Purchase Document Without Signature to Telecommunications Authority

Ncell has submitted a share purchase document to the Nepal Telecommunication Authority without the necessary signature. Purushottam Khanal, Chairman of the Telecommunications Authority, revealed during a session with the Parliament's Technology Committee that although Ncell forwarded the document detailing the purchase and sale of shares, it lacked essential elements such as a signature, seal, and stamp.

Addressing the matter, Khanal stated, "Upon receiving the unsigned document, we promptly returned it and issued instructions to provide the correct details."

The incident occurred on the 13th of Last Mangsir when 80% of Ncell's shares were bought and sold without obtaining prior approval. The oversight in submitting a document without a signature raises questions about the completeness and validity of the transaction. The Telecommunications Authority is actively engaging with Ncell to ensure that the necessary details are provided accurately and in compliance with regulatory requirements.

The Parliament's Technology Committee continues to monitor the situation closely, emphasizing the importance of adherence to proper procedures in share transactions within the telecommunications sector.