Santosh Narayan Shrestha Resigns as Chairman of Nepal Securities Board

April 17, Kathmandu – Santosh Narayan Shrestha, Chairman of Nepal’s Securities Board, has submitted his resignation. He announced his decision during the board’s executive committee meeting held on Friday. According to the Securities Act, the board chairman must formally submit their resignation to the government. Following this procedure, Shrestha handed over his resignation to the Finance Minister on Friday evening, as confirmed by sources within the Ministry of Finance.

After Friday’s board meeting, Shrestha informed the directors that he made the decision to resign in order to support the government. The directors shared this information. The government had appointed him as Executive Chairman of the Securities Board on November 25, 2024. Following his involvement in the investigation concerning asset cleansing linked to Deepak Bhatt, the government requested Shrestha to step down and cooperate. In line with this request, he tendered his resignation.

*An earlier version of this report contained inaccuracies in some facts and has been corrected – Editor.