A group of angry investors took control of the Nepal Securities Board (SEBON) office in Khumaltar on Sunday evening. They kept the chairman and board members inside the building for almost seven hours, demanding immediate action on their concerns.
Why did investors angry with the SEBON Chairman?
The protest began after the stock market continued to fall sharply for several days. Many investors were upset by the declining prices, political instability, and lack of quick response from the authorities. They said SEBON and the government were slow to implement the recommendations made by the Capital Market Reform Taskforce formed by the finance minister.
What were investor demanding?
At first, the investors focused on implementing the earlier reform suggestions.
But as more people joined, the list expanded, demanding immediate policy changes and stronger investor protection.
By evening, their list had grown to 15 points.
The investors locked the main gate of SEBON and said they would not go home until the officials made a written commitment to meet their demands. Inside, SEBON Chair Santosh Narayan Shrestha and board members were stopped from leaving the meeting room. Witnesses said there were repeated arguments and heated discussions between the investors and the officials.
Chairman Shrestha assured the protesters that many of their concerns had already been addressed and that the rest would be implemented gradually. Later, SEBON released a written statement confirming that the board had already decided to speed up market reforms and would continue to respond to other genuine demands in time.
However, several investors were unhappy with the statement. They said they wanted immediate results, not just promises. Some of them tore up the copies of SEBON’s written commitment and continued shouting slogans late into the night.
Police were deployed around the SEBON office as tensions increased. Senior investors including Tilak Koirala, Dipendra Agrawal, and Sushil Luniya tried to calm the crowd. They requested the protesters to give SEBON time until Tihar to fulfill the commitments. After several hours of talks, most investors agreed to leave.
The police then escorted the SEBON chairman, board members, and senior staff safely to their homes.
This incident shows the growing frustration among investors as the stock market continues to fall and confidence weakens. Many will now be watching closely to see if SEBON keeps its promises before Tihar.
