Patan High Court Issues Interim Order Not to Recognize Ncell Shares Sale
Hamrakura
Published 2023 Dec 08 Friday
Kathmandu: The Patan High Court has issued a temporary interim order instructing the company registrar's office not to register the transfer of ownership of shares in the private telecommunications service provider company, Ncell. The order was delivered by a single bench of High Court Judge Purushottam Prasad Dhakal.
Simultaneously, the court has summoned both parties involved in the dispute for a hearing scheduled for December 11. Following the hearing, the court will make a decision on whether to maintain the interim order or issue a different directive.
The legal move comes in response to a writ petition filed by Gokul Bahadur Rokaya, urging the High Court not to recognize the transaction of shares purchase and sale. Reportedly, the Malaysian company Axiata sold 80 percent of its shares in Ncell to Spectralite UK Limited.
