CIAA seizes IPO-related files from Securities Board

Anti-graft body raids Board’s office, takes control of 89 hydropower companies’ files amid commission-for-clearance allegations.

The Commission for Investigation of Abuse of Authority (CIAA) on Wednesday raided the office of the Securities Board of Nepal (SEBON) and seized files of 89 hydropower companies currently undergoing the initial public offering (IPO) approval process, following allegations of board officials demanding commission for the approval.