7 days ultimatum to the broker after not returning the 22 crore given to buy the shares

Himalayan Investment Banker Limited has issued a final order to Bhrikuti Stock Broking Company (Broker No. 55) to repatriate approximately Rs.222.5 million of HLI Large Cap Fund. Himalayan Investment Banker has taken this strict action as Bhrikuti Stock has not used the money for investment and has not returned it till now despite providing funds for the purchase of shares. Issuing clear instructions, Himalayan Investment Banker has warned to refund the said amount, along with due interest and other damages, within 7 days from the date of publication of the notice. If the amount is not deposited within this period, legal action will be initiated against Bhrikuti Stock Broking Company and its directors.

Bhrukuti stocks have been ignoring repeated calls before. In this regard, the attention of the relevant bodies has been drawn and interest has also been expressed regarding the effect it may have on the securities market in the future.