Dipendra Agrawal laments action against Securities Board!

dipendra agrawal

Agarwal participates in the movement of share investors.

July 8, Kathmandu. Wednesday is the 8th day of the hunger strike started by share investors. In the ongoing agitation at the premises of Nepal Securities Board, the regulatory body of the share market, a group chanted slogans against Board Chairman Ramesh Kumar Hamal on Wednesday afternoon. Dipendra Agrawal is one of those who chanted slogans against Hamal.

Agarwal also chanted slogans on Monday, Tuesday and Wednesday during the agitation and loud slogans in the board premises.

Agarwal, who has been repeatedly prosecuted for misconduct by the share market regulatory body, is now active in the ongoing agitation for investment in the board premises. According to sources, Agrawal is leading the ongoing movement.

Securities and Exchange Board (SEB) officials have accused Agrawal of setting up a group on social media to protest against the declining share market.

Controversial share investor Dipendra Agrawal, who has been prosecuted by the Securities and Exchange Board and the Insurance Committee on the charge of fraud, is now agitating against the regulatory body which has recommended action against him.

The board had written to the Central Bureau of Investigation (CBI) of Nepal Police last April to investigate and take action against Agrawal, alleging that he had defrauded the public through Goldman Sachs Investment. “We have recommended action after Goldman Investment raised money from the public on social media, saying it would double the amount,” a board source said. “We told the Central Investigation Department last April.”

According to both the Securities and Exchange Board and the Companies Act, the Securities and Exchange Board of Nepal (SEB) has stated that it has investigated after it was seen that Agrawal had taken money from the investors in an unfavorable manner. Similarly, the Insurance Committee had suspended Agrawal from the Board of Directors in April 2078 BS saying that he was involved in buying and selling shares while he was the director of General Insurance.

Spokesperson of the Insurance Committee Rajuraman Poudel told online news that Agarwal was suspended from the post after he manipulated the shares. Spokesperson Poudel said, “We have investigated the case by suspending Agarwal from the board after it was found that he was involved in the scam.”

However, Agrawal claimed that the allegations against him were baseless. Asked about his role in the conflict of interest movement, Agrawal said, “Your role in the movement is for the benefit of 5.2 million investors.” Those who do good in this country are abused, ‘he added. Agarwal also challenged to take action if he did wrong.

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