High court halts transfer of Nell ownership

Himal Press 07 Dec 2023
High court halts transfer of Nell ownership

KATHMANDU: The Patan High Court has issued a short-term interim order in the name of the Office of Company Registrar not to register the transfer of ownership of the shares of the private telecommunication service provider company, Ncell.

A single bench of High Court Judge Purushottam Prasad Dhakal issued the order on Thursday.

The high court has also summoned both parties for a hearing on December 11. Following the hearing, the court will decide whether to continue the interim order or issue another order.

Malaysian company Axiata has announced that it has reached an agreement to sell all its 80% shares in Ncell to UK-registered Spectraeite Limited.

The high court was hearing a petition filed by Gokul Bahadur Rokaya. The petitioner has demanded authorities to not recognize the agreement to sell shares in Ncell.

Published On: 07 Dec 2023

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *