SEBON Can Now Publish Many Such Red List of Companies However It Pleases, Whenever It Pleases

Mon, Jun 21, 2021 10:36 AM on Stock Market, Latest,

The way has been opened for the Securities Board of Nepal (SEBON) to make public the names of other risky companies, just like it had unveiled a list of 51 companies recently.

According to today's hearing of the writ petition filed against the release of 51 companies issued by the board, the board has been provided the authority to make public the names of other companies which are still at risk.

In the writ petition heard in Kumar Chedal's bench, the court issued a show-cause order stating that the court should not issue an interim order as SEBON's move does not affect the applicant's undisputed rights, and thus there is no need to issue an interim order.

The show-cause order issued by the court states, "In view of the petitioner's request for an interim order to be issued, the various financial conditions of various companies have been published by SEBON for public information, and thus an interim order is unnecessary to be issued."

The writ petition, which was heard in Kumar Chedal's courtroom, was debated by advocate Rabin Bohaju.

Also Read:

1) This Is the Red List of 51 Companies That Are Overvalued, According to SEBON

2) Opinion Piece: Is the Red List of 51 "Overvalued" Companies Published by SEBON Ethical?

3) SEBON's Red Flag on 51 Companies: Estimating 30-Day Downside Risk Using Monte-Carlo Simulation VAR