#AHPC (Arun Valley Hydropower) — Founder #AKPL (Arun Kabeli Power) — Chairman #API Power — Chairman (family-run) #RIDI (Ridi Power) — Executive Direct
What He Did — The Insider Trading Conviction
+
The scandal detail:
Neupane, while in office as chairman of Ridi Power, bought 28,953 shares and sold 39,223 shares — trading while holding insider information, which is illegal under Nepal’s Securities Act.
Neupane made over NPR 32 million in benefits by illegally trading stocks of #Ridi Power Company Limited while he was the company’s Chairman. SEBON on 10 December 2022 decided to take action against Neupane++
Post-conviction behaviour:
On 25 December 2022, SEBON punished Guru Prasad Neupane by barring him from being an operator of a public company for 10 years. Despite that, Neupane still holds the position of Chair at #Arun Kabeli Power Limited.
And Penalty for profit of Rs.32Million
SEBON fined him NPR 75,000 and banned him from serving as director of any public company for 10 years. Despite owing more than NPR 800 million in bank loans and defaulting on several payments,he continues to enjoy support from certain banks
The king of Insiders —A thread 🧵
1. GURU PRASAD NEUPANE:
CONTROLS :
#AHPC (Arun Valley Hydropower) — Founder
#AKPL (Arun Kabeli Power) — Chairman
#API Power — Chairman (family-run)
#RIDI (Ridi Power) — Executive Direct
What He Did — The Insider Trading Conviction
+The scandal detail:
Neupane, while in office as chairman of Ridi Power, bought 28,953 shares and sold 39,223 shares — trading while holding insider information, which is illegal under Nepal’s Securities Act.Neupane made over NPR 32 million in benefits by illegally trading stocks of #Ridi Power Company Limited while he was the company’s Chairman. SEBON on 10 December 2022 decided to take action against Neupane++Post-conviction behaviour:
On 25 December 2022, SEBON punished Guru Prasad Neupane by barring him from being an operator of a public company for 10 years. Despite that, Neupane still holds the position of Chair at #Arun Kabeli Power Limited.And Penalty for profit of Rs.32Million
SEBON fined him NPR 75,000 and banned him from serving as director of any public company for 10 years. Despite owing more than NPR 800 million in bank loans and defaulting on several payments,he continues to enjoy support from certain banks
The king of Insiders —A thread 🧵
1. GURU PRASAD NEUPANE:
CONTROLS :
#AHPC (Arun Valley Hydropower) — Founder
#AKPL (Arun Kabeli Power) — Chairman
#API Power — Chairman (family-run)
#RIDI (Ridi Power) — Executive Direct
What He Did — The Insider Trading Conviction
+ ... The scandal detail:
Neupane, while in office as chairman of Ridi Power, bought 28,953 shares and sold 39,223 shares — trading while holding insider information, which is illegal under Nepal’s Securities Act. ... Neupane made over NPR 32 million in benefits by illegally trading stocks of #Ridi Power Company Limited while he was the company’s Chairman. SEBON on 10 December 2022 decided to take action against Neupane++ ... Post-conviction behaviour:
On 25 December 2022, SEBON punished Guru Prasad Neupane by barring him from being an operator of a public company for 10 years. Despite that, Neupane still holds the position of Chair at #Arun Kabeli Power Limited. ... And Penalty for profit of Rs.32Million
SEBON fined him NPR 75,000 and banned him from serving as director of any public company for 10 years. Despite owing more than NPR 800 million in bank loans and defaulting on several payments,he continues to enjoy support from certain banks
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