Kathmandu. KATHMANDU: The Supreme Court (SC) has issued a verdict in November 2081 disqualifying the CEO and director of the Nepal Rastra Bank (NRB) from the post of CEO. The Supreme Court (SC) has issued a letter to the Nepal Rastra Bank (NRB) directing the central bank to disqualify its CEOs and directors.
Advocate Madhu Kumar Chaulagain had taken action against the CEO of Kumari Bank Ram Chandra Khanal in 2082 BS after the Supreme Court ruled that the CEO of the bank would be ineligible for regulatory action TAG_OPEN_div_25 ।
The Supreme Court has clearly expressed the intention that the matter given by morality or caution is also a matter of action.
On the other hand, some have also said that all the CEOs and directors who have taken action against the Rastra Bank so far will be disqualified. However, lawyers argue that the CEO and director will be disqualified only in cases after the date of the verdict. According to both of these interpretations, the CEO of Kumari Bank and the CEO of Prime Commercial Bank are on the list to step down.
Legal practitioners say that if Khanal and Manandhar are not removed from the post as per the Supreme Court’s historic verdict, they will face contempt of court.TAG_OPEN_div_20
