SEBON Chairman Santosh Resigns: Steps Down After 16 Months
18th April 2026, Kathmandu
In a significant move for Nepal’s financial regulatory landscape, Santosh Narayan Shrestha, the Chairman of the Securities Board of Nepal (SEBON), has resigned from his post.
SEBON Chairman Santosh Resigns
The resignation comes just 16 months into his tenure, following a period of intense political transition and administrative pressure.
Resignation Details: Why Shrestha Stepped Down
According to internal sources, Chairman Shrestha submitted his formal resignation to the Ministry of Finance on Friday evening (April 17, 2026).
The decision followed a final board of directors meeting at the SEBON headquarters, where Shrestha reportedly thanked his colleagues before heading to the Ministry to finalize his departure.
Key factors leading to the resignation include:
Political Shift: Following the 2026 general elections, which saw a landslide victory for the Rastriya Swatantra Party (RSP) and the formation of a new government, there has been widespread pressure on political appointees from the previous administration to step aside.
Government Mandate: RSP Chairman Rabi Lamichhane had recently issued a public appeal for high-ranking officials appointed by the previous government to “pave the way” for new leadership.
Controversies: Despite being credited with several policy reforms, Shrestha’s tenure was marked by allegations regarding his proximity to certain business houses, a point of contention often raised by market analysts.
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Who is the Next SEBON Chairman?
With the RSP now at the helm of the government, the appointment of a new SEBON chief is expected to align with the party’s focus on transparency and institutional reform.
Interim Leadership under Uttar Kumar Khatri
As per the Securities Act, the leadership gap will be bridged by the Ministry of Finance. Uttar Kumar Khatri, a Senior Joint Secretary and the current Ministry representative on the SEBON board, is slated to take over as the Acting Chairman.
Khatri will oversee the board’s daily operations until the Council of Ministers initiates the formal legal process to select a permanent successor.
Impact on the Nepal Stock Exchange (NEPSE)
The resignation comes at a time when the Nepal Stock Exchange (NEPSE) is navigating a complex post-election market. Investors are closely watching how the new leadership will handle:
Pending IPO Approvals: Numerous companies are awaiting approval for public offerings.
Broker Licenses: The ongoing debate regarding the expansion of broker services and the entry of new commercial bank subsidiaries.
Digital Transformation: The implementation of next-generation trading technologies.
Conclusion
Santosh Narayan Shrestha’s exit marks the end of a short but eventful era for SEBON. As the new government prepares to appoint a fresh leader, the Nepalese investor community remains hopeful that the next Chairman will prioritize market stability and investor protection.
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