Himalayan Investment Banker Limited has issued a final 7-day ultimatum to Bhrikuti Stock Broking Company (Broker No. 55) to return Rs 222.5 million.

The amount was provided for investment in the HLI Large Cap Fund for share purchases. However, the broker allegedly failed to buy shares and also did not return the funds despite repeated requests.

The company has demanded the return of the principal amount along with interest and penalties within 7 days of the notice.

If the payment is not made within the deadline, legal action will be initiated against the brokerage firm and its operators.

Previous reminders were reportedly ignored, prompting stricter enforcement action from the concerned authority.