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Supreme Court issues showcause notice to CIAA | Nepali Economy
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Supreme Court issues showcause notice to CIAA

The Supreme Court today issued show cause notice to the anti-graft body.
Advocate Arjun Kumar Aryal had on Wednesday filed a case against the Commission for Investigation of Abuse of Authority (CIAA) accusing it of interfering into the matter of banks and financial institutions going out of its jurisdiction.
The CIAA had reportedly sought financial information from the banks and financial institutions going out of its jurisdiction, claimed Aryal in his petition.
A single bench of Judge Dr Bharat Bhadur Karki today issued the show cause notice to CIAA.
According to the Nepal Rastra Bank Act 2058 BS, the right to direct, monitor, regulate and liquidate banks and financial institutions falls under the jurisdiction of central bank as it is an autonomous body.
The CIAA move to seek direct information from the banks and financial institutions will send a negative message to the whole economy, he claimed.