Recommendation for in-depth investigation on Ncell share ownership transaction

Kathmandu, Aug 11: The Study and Investigation Committee on Ncell Axiata share purchase and sale, 2080 has suggested that the relevant authorities should investigate issues related to revenue leakage, foreign exchange embezzlement and money laundering over what is called, opaque transactions in Nepal and abroad, in Ncell’s past share and ownership transactions.

The government on Tuesday decided to make public the report of the Committee, and implement its recommendations. The committee formed under the coordination of former Auditor General Tanka Mani Sharma Dangal states that Ncell Axiata has purchased and sold shares and ownership 14 times since its establishment as Spice Cell Pvt. Ltd. in 2058 BS.