Bhatta resigned from the position of recommendation committee coordinator, citing a conflict of interest after his brother (a close relative) applied for the position of board chairman.
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Gunakar Bhatta has resigned from the Chairman Recommendation Committee of the Securities Board of Nepal.
Bhatta resigned from the recommendation committee coordinator, citing a conflict of interest after his brother (a close relative) applied for the post of board chairman. After Bhatta resigned from the position of committee coordinator, another member of the National Planning Commission was appointed in his place, according to a Finance Ministry source.
The Securities Act provides for the formation of a recommendation committee for the selection of a chairman under the coordination of the vice-chairman of the National Planning Commission. The recommendation committee was formed under the coordination of Bhatta as per the same provision. The committee has issued a procedure for the chairman and invited applications. 78 people have applied for the post.
The chairman position is vacant on the board after the resignation of outgoing chairman Santosh Narayan Shrestha of the Securities and Exchange Board of Nepal.
