SEBON's Decision to Bring Charges Against Guru Prasad Neupane for Inside Trading has been Suspended by High Court

Securities Board (SEBON)'s decision to bring charges against Guru Prasad Neupane has been suspended by the High Court.

Previously, a charge sheet against power entrepreneur Guru Prasad Neupane had been filed in the Kathmandu district court, seeking recovery of over Rs 32 million in fines with imprisonment.

The district government attorney's office, Kathmandu filed the case charging Neupane with inside trading in securities, which is illegal in Nepal. The Nepal police launched an investigation into the matter following a case filed by the Securities Board of Nepal.

Neupane made over Rs 32 million in benefits by illegally trading stocks of Ridi Power Company Limited (RIDI) while he was the company’s chairperson, according to the indictment. The SEBON on 10 December 2022 decided to take action against Neupane claiming that they had illegally traded stocks.

After reviewing the petition and supporting evidence in this matter, the petitioner's arguments were also heard from the learned senior advocate Mr. Krishna Prasad Sapkota, Mr. Kedar Karki, and advocate Mr. Bam Bahadur Katuwal.

Now, as per Section 153 of the Civil Criminal Procedure Code, 2074, the implementation of the charges against Neupane cannot be implemented until the appeal is finalized.