SEBON Leadership Crisis: 47 Applicants Left in the Dark

The search for a new Chairman for the Securities Board of Nepal (SEBON) has hit a major roadblock. Dr. Gunakar Bhatta, who was appointed to head the three-member selection committee, resigned on May 6 (Baishakh 24) citing a "Conflict of Interest" after his close relative was found to be among the candidates. A total of 47 experts have applied for the position, but the government’s delay in appointing a new coordinator has brought the process to a standstill. This vacancy follows the resignation of former Chairman Santosh Narayan Shrestha on April 17. The continued leadership vacuum is causing significant delays in critical market activities, including the approval of new IPOs, Rights Shares, and vital policy decisions, raising concerns among investors and applicants about the government's commitment to the capital market.