Chairman of SEBON accused of financial irregularities; CIAA looks into the issue

On Bhadra 30, 2076, a complaint was file in the Commission for Investigation of Abuse of Authority (CIAA) against the Chairman of Securities Exchange Board of Nepal (SEBON), Dr. Rewat Bahadur Karki for financial irregularities.

The complaint had called for an investigation in the events between Chaitra 7 to Chaitra 14, 2074. During this period a seminar was being held in Tokyo on securities market regulation. Without taking approval from the Finance Ministry, the event was attend while stating the leave as holiday. On return, a reimbursement of Rs.6 Lakhs was availed under travel expenses.

Upon receiving the complaint, he mentioned that he hasn’t made any kind of financial gain out of the reimbursements. Similarly, the board has asked the authorities to investigate in the matter and find the truth. He also mentioned that the financial activities of the board are completely transparent. He added that anyone willing to inquire about the same may follow the legal procedure to obtain it. As per the authorities, this matter is under investigation.

Dr. Karki was appointed as the Chairman of the board on Ashwin 30, 2072. Only a month is remaining for the completion of his tenure.