Banking News – Nepal’s Supreme Court has directed the Nepal Telecommunications Authority (NTA) to handle the Ncell share transfer in accordance with prevailing laws, paving the way for the long-running dispute over the telecom company’s ownership transaction to move toward resolution.

The case was filed by Amaresh Kumar Singh, who challenged the sale of 80% of Ncell’s shares, arguing that the state had not received the benefits and revenues it was entitled to from the transaction.

While hearing the writ petition, the Supreme Court issued a directive instructing the telecommunications regulator to take action in full compliance with applicable legal provisions.

The controversy centered on allegations that the required legal documents were not submitted before the transfer of the 80% foreign-owned stake, as mandated under Nepal’s laws governing foreign investment and telecommunications.

In its order, the Supreme Court instructed the Nepal Telecommunications Authority to ensure effective regulatory oversight and proceed with the share transfer process strictly in accordance with the law, bringing the prolonged ownership dispute closer to a legal resolution.