December 8: The Patan High Court has issued an interim order in the name of the Company Registrar's Office not to register the transfer of ownership of the shares of Ncell, a private telecommunication service provider company operating in Nepal.
A single bench of High Court Judge Purushottam Prasad Dhakal handed down the order on Thursday.
Meanwhile, the court has summoned both parties for a hearing on the dispute on December 11. Following the hearing, the court will decide whether to continue the interim order or issue another order.
Malaysian company Axiata reportedly sold 80 percent of its shares in Ncell to Spectralite UK Limited.
The order comes in response to a writ petition filed at the High Court by Gokul Bahadur Rokaya, demanding that the transaction of shares purchase and sale not be recognized. -- RSS