SEBON's 17th Anniversary

Securities Board of Nepal (SEBON) organized a program on the auspicious occasion of its 17th Anniversary on 7 june '09 in its office premise at Bijayachowk, Gaushala. Speaking as a president of the program, Dr Surbir Paudyal, chairman of SEBON said that the Board is making its effort for enhancing the regulating efficiency of the Board for the development of securities market. Dr Paudyal pointed out the fact that the Board is not operationally independent due to the absence of law and said that the Board is making every effort for the establishment of CDS (Central Depository System) for the development of securities market. He also informed that the Board is stepping ahead by drafting the Mutual Fund Act for the better investment avenues to the small investors. Realizing the necessity of capable human resource for building supervision, investigation and enforcement capabilities of Board, it has started appointing the new employees and rewarding the existing ones for their devotion, commitment and efficient performance.

On the occasion, Dr Phatta Bahadur KC, Chairman of Beema Samiti said that the Board should play an important role for the protection of interest of small investors. He was of the opinion that not only investors, but economy as a whole would be affected if the Board failed in performing its responsibilities. Dr Narayan Poudel, Chairman of Nepal Stock Exchange stressed that the malpractices prevalent in share transaction should be mitigated and the trading option should be decentralized so that it can reach every nook and corner of the country. He said that it is impossible to imagine the development of capital market without conscious investors.

Board member and Joint Secretary of the Government of Nepal, Ministry of Law, Justice and Parliamentary Affairs, Mr Baburam Regmi said that there should be the coordination between government and SEBON for the required legal provisions for the development of capital market. On the occasion, Niraj Giri, Director of SEBON, presenting his working paper, said that the Board has given approval for the issue of ordinary shares amounting to Rs 2509.7 million and right shares amounting to Rs. 10530 million till Jestha 25 from the beginning of the current fiscal year. Similarly, Director Paristha Poudel presented the fact of increasing challenges for the qualitative development of capital market due to its rapid quantitative development.

Navaraj Pandit, Secretary of Employees Union of SEBON, opined that it is imperative to study and analyze the Indian Market for the development of our market. On the occasion, Dr Paudyal, Chairman of SEBON had honored two employees with the ‘Letter of Appreciation’ and a token cash amount of Rs 25000 each for their continuous devotion and excellent performance throughout the year.

S.N. Date Speaker Topic Venue
01 June 19 2009 Dr. Surbir Paudyal, Chairman Securities Market Office Premises,Bijay Chowk, Gaushala-9, Kathmandu
02 June 19 2009 Mr. Paristha Nath Poudyal, Director Regulation and institutional strengthening activities in fiscal year 2008/2009 Office Premises, Bijay Chowk, Gaushala-9, Kathmandu
03 June 19 2009 Mr. Niraj Giri, Director Corporate Affairs Office Premises, Bijay Chowk, Gaushala-9, Kathmandu