NEPSE CDSC Recalled Pravin Pandak: Action Taken After Illegal Appointment Allegations

24th April 2026, Kathmandu

In a significant move to uphold corporate governance, the Nepal Stock Exchange (NEPSE) has officially made the decision to recall Pravin Pandak from NEPSE CDSC.

NEPSE CDSC Recalled Pravin Pandak

The board meeting held on Friday concluded that Pandak, who served as a director at CDS and Clearing Limited (CDSC), would be returned to his parent organization following serious allegations of administrative misconduct and regulatory violations.

The Role of ‘Hello Sarkar’ in the Recall

The catalyst for this decision was a formal complaint lodged through the Prime Minister’s Office via the ‘Hello Sarkar’ portal. The complaint alleged that Pandak had been utilizing political influence to occupy a high-level position at CDSC illegally.

The public and administrative pressure resulting from this grievance forced the NEPSE board to review his tenure and eventually issue the recall notice.

Key Allegations and Regulatory Breaches

The controversy surrounding Pandak involves several layers of administrative and ethical concerns:

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Violation of Deputation Rules: Despite being a 9th-level employee at NEPSE, Pandak was reportedly kept on deputation (Kaaj) at the helm of CDSC for over a year, which critics argue bypassed standard subsidiary management protocols.

Abuse of Political Power: The recall follows claims that Pandak operated with a sense of “procedural immunity,” allegedly ignoring internal bylaws due to his political connections.

Financial Scrutiny: It has been revealed that Pandak is also facing multiple complaints at the Commission for the Investigation of Abuse of Authority (CIAA) regarding potential economic irregularities and misuse of office.

Impact on Nepalese Capital Markets

The decision to recall Pravin Pandak is seen as a necessary step in cleaning up the administrative framework of Nepal’s financial institutions. For Nepalese investors, the integrity of CDSC, which handles the clearing and settlement of all stock transactions, is paramount.

By removing an official accused of bypassing the rule of law, NEPSE is sending a clear message that the future of the nation’s financial sector must be built on meritocracy and strict adherence to the Digital Nepal governance standards.

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