Gunakar Bhatta has resigned from the recommendation committee formed to appoint the chairperson of the Nepal Securities Board (SEBON). Bhatta, who also serves as the Vice Chairperson of the National Planning Commission, stepped down citing the need to maintain transparency and impartiality in the selection process.

The government had formed a three-member recommendation committee led by Bhatta, with Finance Secretary Ghanshyam Upadhyaya and expert member Bhuvan Kumar Dahal as members. The committee had opened applications for the SEBON chairperson position on Baisakh 13, receiving applications from 47 candidates.

However, controversy emerged after Dr. Gopal Bhatta, a relative of Gunakar Bhatta, also applied for the post, raising concerns over a possible conflict of interest. Following the criticism, Bhatta resigned from the committee.

The chairperson selection process has now been temporarily suspended until the Cabinet appoints a new coordinator. The committee is responsible for recommending three shortlisted candidates, from which the government will appoint the new SEBON chairperson.