Nepal, May 7 -- Santosh Narayan Shrestha, the Chairman of the Securities Board of Nepal (SEBON), has been accused of demanding commissions through intermediaries in exchange for approving IPO issuances-a matter that has now reached the parliament.

During Wednesday's session of the House of Representatives, opposition lawmakers raised the issue during an emergency hours discussion and demanded action against Chairman Shrestha.

Madhav Sapkota, a Member of Parliament from the CPN (Maoist Centre), called for an investigation into the matter, pointing out that such actions by the head of a regulatory body discourage hydropower companies-especially at a time when the government has set a goal to produce 28,000 megawatts of electricity in the ...