CDSC Board Appoints New Acting Executive

In a significant move within the capital market infrastructure, the Board of Directors of CDS & Clearing Limited (CDSC) has appointed Ms. Kanchan Sapkota as the Acting Chief (Kayam Mukayam). The decision, finalized during Sunday’s board meeting, formalizes the removal of Pravin Pandak from the leadership position at the subsidiary of the Nepal Stock Exchange (NEPSE). The leadership change stems from a controversial appointment made on Poush 14, 2081, by former NEPSE CEO Krishna Bahadur Karki. Pandak was originally appointed as Managing Director for a four-year term just before Karki's tenure ended. Current NEPSE leadership flagged this as a policy deviation, arguing that such a long-term position should have been filled via open competition rather than a direct appointment at the end of a CEO's term. Consequently, NEPSE recalled Pandak to his original post at the parent company. Ms. Sapkota, who has been leading the Administration and Human Resources (HR) department at CDSC, has now been entrusted with the executive and daily administrative responsibilities of the organization until further notice.