Kathmandu. The Securities Board of Nepal (SEBON) today held discussions with representatives of the private sector regarding dual International Securities Identification Number (IGIN).

During the discussion, representatives of the private sector claimed that there is no need for dual IGN. Currently, there is a single IGN. The CDSC has sent it to the Securities Board of Nepal (SEBON) for approval by passing the ‘Securities Dematerialization Work Operation Directive-2082’ on July 26 for the improvement of the share market.

The board has been discussing the directive for about 7 months. For this, the board has also formed a study committee. The meeting was attended by Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal, former president of the Independent Power Producers’ Association (IPPAN), President of Confederation of Nepalese Industries (CNI), President of Banking Department of Nepal, Chairman of Nepal Chamber of Commerce Santosh Narayan Shrestha, Board of Directors Hemraj Dhakal, Joint Secretary of the Ministry of Law and Director Bidod Kumar Bhattarai and expert member Pitambar Bhandari. According to sources, Executive Director Muktinath Shrestha and Spokesperson Niranjaya Ghimire have discussed the issue.

According to sources, representatives of the private sector have claimed that if this is implemented, there will be another Genji movement. A member of the meeting said that there was no need to conduct the practice in Nepal which is not available in the world.

The private sector has suggested that instead of giving double IGN, companies should now be allowed to remove the lockout period of three years and allow non-directors to sell this percentage in a year.

“CDSC has held on to shares even though there is only one IGN. It cannot be sold before three years,” said a representative of the private sector. The CDSC employees who opened the locks should be brought under the purview of action. The overall market should not be affected. ’

These representatives have demanded to stop the work of defaming all sectors and creating problems by showing the mistakes made in some companies. Attendees argued that he was trying to cut off his hand when his finger was sick.

It has also been demanded in the board to immediately take action against the CDSC employees who open the locks at the time of their desire by stopping such tendency. It has also demanded that the CDSC staff, other stakeholders and officials of the listed companies should also be brought under the purview of action for mischief.