Ncell shares sale: SC seeks written response from govt, Ncell

KATHMANDU: The Supreme Court has ordered government agencies and Ncell to furnish a written response on the telecom operator’s share purchase deal.

A single bench of Justice Prakashman Singh Raut issued the order to Ncell Axiata Ltd, the Nepal Telecommunications Authority, and other government agencies on Tuesday, hearing a writ petition filed by independent lawmaker Amresh Kumar Singh.

Lawmaker Singh filed the petition following the announcement by Malaysian firm Axiata that it had sold all its shares in Reynold Holdings, which owns 80% of shares in NCell, to UK-registered Spectrelight Limited. Spectrelight is wholly owned by Satish Lal Acharya – a Singapore-based businessman of Nepali origin.

Arguing that the transaction is suspicious, lawmaker Singh has requested the apex court to direct government authorities not to approve the share purchase deal.