The Nepal Stock Exchange (NEPSE) has halted the share trading of MuktiNath Development Bank Limited due to irregularities in its operations.
NEPSE took this decision after investigating allegations of ‘Dadagiri’ (bullying) and manipulation of share prices. The bank claimed to have made sensitive decisions based on the impact on the value of its securities during business hours.
According to NEPSE, the bank had decided to distribute 10.26% of profits during the board meeting held on Thursday, Poush 5th, at market time. NEPSE has directed the bank to provide clarification within three days of halting the trading of shares.