Nepal, April 16 -- The Supreme Court (SC) has issued an interim order in favor of Ashok Sherchan, Chief Executive Officer (CEO) of Prabhu Bank, allowing him to continue in his position until a final verdict is reached on a tenure-related dispute.

Sherchan had filed a writ petition against the interpretation made by the Patan High Court regarding the term limit for bank CEOs. A single bench of Justice Til Prasad Shrestha issued the interim order after hearing the petition, which named Nepal Rastra Bank (NRB) and the Patan High Court as defendants.

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Earlier, the Patan High Court had dismissed a writ that challenged Sherchan's reappointment, ruling that the CEO's tenure sho...