Dispute led Nepal Bank cancels auction of 7 lakh units ordinary shares of Taragaon Regency Hotel

Nepal Bank Limited (NBL) has cancelled its aucion of 7 lakh unit shares of Taragaon Regency Hotel Limited. Nepal Bank  has been inviting sealed bids for 7 lakh units of ordinary shares of Taragoan Regency Hotel Limited at Rs 200 and above from Baishak 20, 2073. Earlier, the company had also extended its auction deadline. As per the official of Nepal Bank, Due to the internal dispute between Taragaon Regency Hotel and Nepal Bank Limited, the auction has been cancelled. Once the dispute is over notice of auction will be published again. Those bidders who have submitted the application along with Good for Payment cheque will be returned their Good for Payement cheque and for those who have deposited the amount in the bank will be provided with  account payee cheque by Siddhartha Capital Limited.