$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '17675',
'article_category_id' => '1',
'title' => 'Controversy Surrounding Application of Himalayan Stock Exchange for License',
'sub_title' => '',
'summary' => 'April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform.',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board. </span></span></span></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2023-04-26',
'modified' => '2023-04-26',
'keywords' => '',
'description' => '',
'sortorder' => '17408',
'image' => '20230426032324_Sebonnn.jpg',
'article_date' => '2023-04-26 15:22:21',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '17675',
'article_category_id' => '1',
'title' => 'Controversy Surrounding Application of Himalayan Stock Exchange for License',
'sub_title' => '',
'summary' => 'April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform.',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board. </span></span></span></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2023-04-26',
'modified' => '2023-04-26',
'keywords' => '',
'description' => '',
'sortorder' => '17408',
'image' => '20230426032324_Sebonnn.jpg',
'article_date' => '2023-04-26 15:22:21',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '17675',
'hit' => '1014'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/20230426032324_Sebonnn.jpg'
$user = null
include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '17675',
'article_category_id' => '1',
'title' => 'Controversy Surrounding Application of Himalayan Stock Exchange for License',
'sub_title' => '',
'summary' => 'April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform.',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board. </span></span></span></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2023-04-26',
'modified' => '2023-04-26',
'keywords' => '',
'description' => '',
'sortorder' => '17408',
'image' => '20230426032324_Sebonnn.jpg',
'article_date' => '2023-04-26 15:22:21',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '17675',
'article_category_id' => '1',
'title' => 'Controversy Surrounding Application of Himalayan Stock Exchange for License',
'sub_title' => '',
'summary' => 'April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform.',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board. </span></span></span></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2023-04-26',
'modified' => '2023-04-26',
'keywords' => '',
'description' => '',
'sortorder' => '17408',
'image' => '20230426032324_Sebonnn.jpg',
'article_date' => '2023-04-26 15:22:21',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '17675',
'hit' => '1014'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/20230426032324_Sebonnn.jpg'
$user = null
include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]
//find the group of logged user
$groupId = $user['Group']['id'];
$user_id=$user["id"];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '17675',
'article_category_id' => '1',
'title' => 'Controversy Surrounding Application of Himalayan Stock Exchange for License',
'sub_title' => '',
'summary' => 'April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform.',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board. </span></span></span></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2023-04-26',
'modified' => '2023-04-26',
'keywords' => '',
'description' => '',
'sortorder' => '17408',
'image' => '20230426032324_Sebonnn.jpg',
'article_date' => '2023-04-26 15:22:21',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '17675',
'article_category_id' => '1',
'title' => 'Controversy Surrounding Application of Himalayan Stock Exchange for License',
'sub_title' => '',
'summary' => 'April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform.',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board. </span></span></span></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2023-04-26',
'modified' => '2023-04-26',
'keywords' => '',
'description' => '',
'sortorder' => '17408',
'image' => '20230426032324_Sebonnn.jpg',
'article_date' => '2023-04-26 15:22:21',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '17675',
'hit' => '1014'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/20230426032324_Sebonnn.jpg'
$user = null
$groupId = null
include - APP/View/Articles/view.ctp, line 116
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '17675',
'article_category_id' => '1',
'title' => 'Controversy Surrounding Application of Himalayan Stock Exchange for License',
'sub_title' => '',
'summary' => 'April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform.',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board. </span></span></span></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2023-04-26',
'modified' => '2023-04-26',
'keywords' => '',
'description' => '',
'sortorder' => '17408',
'image' => '20230426032324_Sebonnn.jpg',
'article_date' => '2023-04-26 15:22:21',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '17675',
'article_category_id' => '1',
'title' => 'Controversy Surrounding Application of Himalayan Stock Exchange for License',
'sub_title' => '',
'summary' => 'April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform.',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board. </span></span></span></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2023-04-26',
'modified' => '2023-04-26',
'keywords' => '',
'description' => '',
'sortorder' => '17408',
'image' => '20230426032324_Sebonnn.jpg',
'article_date' => '2023-04-26 15:22:21',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '17675',
'hit' => '1014'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/20230426032324_Sebonnn.jpg'
$user = null
$groupId = null
$user_id = null
$date = '2023-04-26 15:22:21'
$dateFromDatabase = (int) 1682501841
$newDate = 'Apr 26, 2023'
$articleView = array(
'article_id' => '17675',
'hit' => '1014'
)
$word_count = (int) 846
$time_to_read = (float) 4.23
$time_to_read_min = (float) 4
$time_to_read_second = (float) 14
include - APP/View/Articles/view.ctp, line 241
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.
The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.
He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”
The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.
Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license.
According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.
Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.
Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.
Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066.
The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.
The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.
There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board.
FormHelper::create() - CORE/Cake/View/Helper/FormHelper.php, line 383
include - APP/View/Articles/view.ctp, line 273
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '17675',
'article_category_id' => '1',
'title' => 'Controversy Surrounding Application of Himalayan Stock Exchange for License',
'sub_title' => '',
'summary' => 'April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform.',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board. </span></span></span></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2023-04-26',
'modified' => '2023-04-26',
'keywords' => '',
'description' => '',
'sortorder' => '17408',
'image' => '20230426032324_Sebonnn.jpg',
'article_date' => '2023-04-26 15:22:21',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '17675',
'article_category_id' => '1',
'title' => 'Controversy Surrounding Application of Himalayan Stock Exchange for License',
'sub_title' => '',
'summary' => 'April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform.',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board. </span></span></span></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2023-04-26',
'modified' => '2023-04-26',
'keywords' => '',
'description' => '',
'sortorder' => '17408',
'image' => '20230426032324_Sebonnn.jpg',
'article_date' => '2023-04-26 15:22:21',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '17675',
'hit' => '1014'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '17675',
'article_category_id' => '1',
'title' => 'Controversy Surrounding Application of Himalayan Stock Exchange for License',
'sub_title' => '',
'summary' => 'April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform.',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board. </span></span></span></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2023-04-26',
'modified' => '2023-04-26',
'keywords' => '',
'description' => '',
'sortorder' => '17408',
'image' => '20230426032324_Sebonnn.jpg',
'article_date' => '2023-04-26 15:22:21',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '17675',
'article_category_id' => '1',
'title' => 'Controversy Surrounding Application of Himalayan Stock Exchange for License',
'sub_title' => '',
'summary' => 'April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform.',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board. </span></span></span></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2023-04-26',
'modified' => '2023-04-26',
'keywords' => '',
'description' => '',
'sortorder' => '17408',
'image' => '20230426032324_Sebonnn.jpg',
'article_date' => '2023-04-26 15:22:21',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '17675',
'hit' => '1014'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
file not found!
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '17675',
'article_category_id' => '1',
'title' => 'Controversy Surrounding Application of Himalayan Stock Exchange for License',
'sub_title' => '',
'summary' => 'April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform.',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board. </span></span></span></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2023-04-26',
'modified' => '2023-04-26',
'keywords' => '',
'description' => '',
'sortorder' => '17408',
'image' => '20230426032324_Sebonnn.jpg',
'article_date' => '2023-04-26 15:22:21',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '17675',
'article_category_id' => '1',
'title' => 'Controversy Surrounding Application of Himalayan Stock Exchange for License',
'sub_title' => '',
'summary' => 'April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform.',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board. </span></span></span></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2023-04-26',
'modified' => '2023-04-26',
'keywords' => '',
'description' => '',
'sortorder' => '17408',
'image' => '20230426032324_Sebonnn.jpg',
'article_date' => '2023-04-26 15:22:21',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '17675',
'hit' => '1014'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '17675',
'article_category_id' => '1',
'title' => 'Controversy Surrounding Application of Himalayan Stock Exchange for License',
'sub_title' => '',
'summary' => 'April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform.',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board. </span></span></span></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2023-04-26',
'modified' => '2023-04-26',
'keywords' => '',
'description' => '',
'sortorder' => '17408',
'image' => '20230426032324_Sebonnn.jpg',
'article_date' => '2023-04-26 15:22:21',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '17675',
'article_category_id' => '1',
'title' => 'Controversy Surrounding Application of Himalayan Stock Exchange for License',
'sub_title' => '',
'summary' => 'April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform.',
'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">April 26: A dispute has arisen regarding one of the three companies that applied for the license of a new stock exchange platform. Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Limited have submitted applications to SEBON for the license of the new stock exchange.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The dispute is related to the Himalayan Stock Exchange, which had applied for the license with the board. Ramesh Kumar Bhattarai, chief executive officer of Mahalakshmi Life Insurance Limited, has claimed that they have already registered an application for a license in the year 2066 in the name of Himalayan Stock Exchange Limited.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He has said that on 15th Mangisr 2066, 17 companies together applied for a license with all the necessary documents in the name of Himalayan Stock Exchange Limited. Bhattarai questioned that “How can a new application with the same name be accepted without finalizing the application given with a deposit of Rs 25,000?”</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board has been facing various controversies regarding the new license since the early days. It seems that the board which proceeded with the process after two petitions filed against the new license distribution process were rejected by the Supreme Court, should also answer Bhattarai's question.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Tej Prasad Devkota, information officer of the board, said that according to the provisions of the law, the board has received applications from three companies and only one of them will get a license. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Devkota, there will be no error in the process as the board will give a stock exchange license to only one of the three companies.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regarding the allegation that the board took another application with the same name, he clarified that the matter will be investigated.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Devkota said that there will be an investigation into whether the previously registered companies are operational or not according to the law and whether they are in a position to accept the application in the future.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mahalakshmi Finance, Vibor Society Development Bank Limited, Asian Life Insurance, Guheshwari Merchant Banking & Finance, NLG Insurance, Janata Bank, Citizens Bank International, Central Finance, Premier Insurance, Sagarmatha Insurance, Lalitpur Finance, Mahalakshmi had submitted a joint application as Himalayan Stock Exchange Limited for the new stock exchange license in 2066. </span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The new Himalayan Stock Exchange, which recently applied for the license with the board, has investments from Shankar Group, Deepak Bhatt, former president of FNCCI Pashupati Murarka, Bhawani Rana, outgoing president Shekhar Golcha, Rajendra Khetan, Saurabh Jyoti and others.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board revised the Securities Market Operation Regulations, 2064 last year for the distribution of new stock exchange licenses. According to the new provision, the organized institutions registered following the prevailing law to operate the securities market must submit an application within six months from the date of registration.</span></span></span></p>
<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There is a provision that the paid-up capital of the new stock exchange should be at least Rs 3 billion. The company must issue 30 per cent shares of the issued capital to the general public within two years of conducting the business with the approval of the board. </span></span></span></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
',
'published' => true,
'created' => '2023-04-26',
'modified' => '2023-04-26',
'keywords' => '',
'description' => '',
'sortorder' => '17408',
'image' => '20230426032324_Sebonnn.jpg',
'article_date' => '2023-04-26 15:22:21',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '17675',
'hit' => '1014'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
