NEPAL Stock Exchange (Nepse) has halted share trading of eight listed companies after they failed to clear the licence renewal fee on time. The companies are Bottlers Nepal (Tarai), National Hydropower, Kanchan Development Bank, Multipurpose Finance, Everest Insurance, Himalayan Finance, Shreeram Sugar Mills and Nepal Film Development Company. The deadline for renewing the licence for these companies ended in mid- October. Himalyan Finance has been declared crisis-ridden by the Nepal Rastra Bank, while the Insurance Board recently took over Everest Insurance for not holding transactions for a long time. Similarly, Shreeram Sugar Mills and Nepal Film Development Company have failed to carry out their stocks trading until now. Nepse Spokesperson Sambhu Pant said these companies repeatedly ignored Nepse’s directive. “Although we notified them to clear their annual fees by mid-October, the companies did not pay heed,” said Pant, adding the action is one of Nepse’s official procedures to compel such companies to clear their annual fees. Companies with a paid-up capital of Rs 10 million have to pay an annual fee of Rs 15,000, while those with Rs 50 million capital have to pay Rs 25,000 annually. For companies with paid-up capital of Rs 50-100 million, the charge has been fixed at Rs 35,000 and those with more than Rs 100 million capital have to pay Rs 50,000 in service charge every year. According to Nepse, these companies will be allowed to carry out their stock transaction only after clearing their dues.
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