A complaint was filed with the Finance Ministry last week alleging irregularities in the IPO of Reliance Spinning Mills.
We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:
This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.
The Securities Board of Nepal (SEBON) has formed a committee to investigate a complaint filed with the Ministry of Finance alleging irregularities in the initial public offering (IPO) of Reliance Spinning Mills.
The board has formed a committee under the coordination of director Binod Kumar Bhattarai after the Ministry of Finance directed it to investigate the matter. The board has informed that the members of the committee include directors Anandraj Sharma Wagle and Pitambar Bhandari.
‘A committee has been formed to conduct an impartial investigation into the activities related to the delisting of Reliance Spinning Mills from the share book building process and submit a report within 15 days,’ the board’s statement said.
A complaint was filed with the Ministry of Finance last week alleging irregularities in the IPO of Reliance Spinning Mills. After receiving complaints about Reliance, which is set to issue an IPO to the public from December 20, the Ministry of Finance had directed the board to investigate and take legal action if irregularities were found.
