KATHMANDU, Nepal – The Patan High Court has dismissed a writ petition challenging the sale of shares in Ncell, Nepal’s leading telecommunications provider. This decision clears the way for the Office of the Company Registrar, Nepal Telecommunication Authority, and other agencies to proceed with finalizing the transaction.
On Wednesday, a joint bench of Judges Dhruba Raj Nanda and Narayan Prasad Regmi issued the dismissal. The Court had previously issued a short-term interim order in December, halting the registration of the Ncell share sale.
The writ petition, filed by Gokul Bahadur Rokaya, sought to block the sale, compel Ncell, Axiata Group, and Spectrlite UK Limited to pay capital gains tax, and prevent any misappropriation of foreign currency involved in the deal. The full text of the court’s judgment is pending.
What’s going on with Ncell?
Last December, Nepali businessman Satish Lal Acharya, through his UK-based company Spectralite UK, acquired an 80% stake in Ncell from the Axiata Group. The deal sparked controversy, and the government formed an independent investigation committee led by former Auditor General Tanka Mani Sharma. The committee has recently submitted its report to the government.
