Action being taken against companies who did not finalize d-mat

Kathmandu January 21- Securities Board of Nepal (SEBON) is taking action against those listed companies that didn't finalize d-mat process on January 15.

Earlier, SEBON had made mandatory to all listed companies in share market to register in CDS and Clearing Ltd in order to d-mat share trading. Investments of many investors are stocked due to negligible practice adopted by many listed companies in d-mat procedure. It has violated investor's right to property thus SEBON is seeking tough action against those companies.

According to NEPSE, among 239 listed companies, 65 companies have not carried out d-mat agreement. Although NEPSE provided data of 180 companies trading in d-mat, only 172 companies are registered in CDS.

Investors who invested in shares of these companies have not been able to trade their asset in secondary market due to which billions of investment of general public has been pended in the process. It has been taken as extremity of negligence of the companies by the regulatory body and investors.

Initially, SEBON is in the mood of sending written correspondence instructing to finalize d-mat process to those companies. If it is not taken seriously, then SEBON is planning to take tough action against those companies.