SEBON Chairman Santosh Narayan Shrestha Resigns Amid Investigation Concerns

Santosh Narayan Shrestha, Chairman of the Securities Board of Nepal (SEBON), has stepped down from his position. He announced his resignation during a board meeting held on Friday.

Following legal provisions under the Securities Act, Shrestha submitted his resignation to the Government of Nepal through the Finance Minister later the same evening, according to sources at the Ministry of Finance.

During the board meeting, Shrestha informed fellow directors that he had decided to resign in order to cooperate with the government. His decision comes after increasing pressure linked to an ongoing investigation into a money laundering case involving businessman Deepak Bhatta, in which Shrestha’s name had also surfaced. The government had reportedly urged him to step down to facilitate the inquiry.