Kathmandu. The suspended Bhrikuti Stock Broker is yet to pay more than Rs 5 billion to the investors, according to the Securities Board of Nepal (SEBON). SEBON has suspended the license of Bhrikuti Stock Broking Company for trading shares of Deepak Bhatta.
According to the Board, the company has been found to have used the money for the sale and purchase of shares of the customers and collateral for settling the transactions of other customers in violation of Rule 31 of the Securities Dealers (Securities Brokers and Securities Dealers) Regulations, 2064.
Similarly, the company has violated Sub-rule (2) of the same Regulations and Bylaws 13, 16 and 17 of the Securities Transaction Settlement and Settlement Bylaws, 2069.
The company has also been found to have provided share purchase facility to the investors without taking minimum 25 percent upfront as per Regulation 8 of Securities Trading Operation By-law, 2075.
According to the Board, as of March 26, 2026, the liability amount of the company to the investors is more than Rs 5.11 billion. According to the Board, buying shares on credit and depositing the shares in the beneficiary account without repaying the amount can have a negative impact on the capital market and there is a risk of loss to the investors.
On this basis, the license to operate broker service of the company has been suspended in accordance with Section 88 of the Securities Act, 2063 and Rule 30 of the Securities Board of Nepal Regulations, 2064.
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