IPO of Chilime Hydropower Company was withheld one day before the issue date, by Supreme Court till 2066 Ashad 10 (24-June-2009) after the general people from the affected areas of Chilime Hyropower Company had filed case against the issue of Chilime, indicating the company did not allot shares equals to 8 percent as per the earlier agreement.
Yesterday (24 June, 2009), yet again the Supreme Court has posted the hearing of CHCL for coming Monday (29 June, 2009) and ordered to stop public offering until the next notice. The Central court has called the representatives of Prime Minister Office and Water Resource ministry for the next hearing. It had not called them in yesterday's hearing.
The court has asked them to be present in the next hearing as the case was filed making them as an opposition. Yesterday, Chilime hydropower Company, SEBON, Nepal Electricity Authority and lawyers had a discussion regarding the IPO issue of Chilime.
Source:
Jamb News Service
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Friday, June 26, 2009
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