KATHMANDU, NOV 28 - 2013
Smart Telecom, which is planning to launch nation-wide GSM mobile service, has been embroiled in an ownership dispute.
The dispute surfaced after a group, claiming that it has bought a 54 percent stake in the company, appointed a new chairman. But the founding group says it has not sold any stake and that it has complete ownership in the company.
In a statement on Wednesday, Smart Telecom Chairman Sachin Lal Acharya said the company has neither sold its stake nor has it held its annual general meeting.
Singapore-based Lal Sahu Distribution holds an 80 percent stake in Smart Telecom, while Square Network has 20 percent.
The dispute surfaced after a group, claiming that it has bought a 54 percent stake in the company, appointed a new chairman. But the founding group says it has not sold any stake and that it has complete ownership in the company.
In a statement on Wednesday, Smart Telecom Chairman Sachin Lal Acharya said the company has neither sold its stake nor has it held its annual general meeting.
Singapore-based Lal Sahu Distribution holds an 80 percent stake in Smart Telecom, while Square Network has 20 percent.
