Kathmandu. Share investor Rabin Kandel has submitted a 5-point demand to Finance Minister Dr Swarnim Wagle.

He submitted a 5-point demand in handwritten form to Finance Minister Wagle via email.

His demands include immediate implementation of dual ISIN, mandatory pre-declaration, forensic audit of suspicious brokers, modification of locking period and payback period, etc. Insiders are going to take strict action on Traded and Corner.

Kandel, who is also the general secretary of the Nepal Share Market Investors Association, demanded that the ISIN of promoter shares and ordinary public shares be made separate immediately. He wants that the promoter should be able to transparently track how much the promoter is supplying from which broker in the market.

Similarly, the committee has demanded that the legal obligation to issue a public notice to the general public through NEPSE at least 15 days before selling its shares in the secondary market should be implemented immediately.

They have also demanded a thorough investigation of the floorsheets and bank accounts of specific brokers (such as the unusual order-matching patterns that have recently appeared in the market) who are buying and selling the same stock in an unusually large quantity in the market. Is there any ‘fund routing’ or ‘circular trading’ between the selling and buying accounts? He demanded an immediate investigation into the matter.

Similarly, the committee has demanded that the promoters of the companies whose financial condition is bad or have not repaid the loan of the project should hold at least 50 percent of their shares until the loan is repaid or the loan is not made. It has been demanded to close the loophole that allows the promoter to run away before the results come.

Likewise, the committee has demanded maximum criminal action and fine against the directors, promoters and associated brokers of the companies for deceiving the general public by artificially stabilizing the price.