Bad start for Kumari Bank
FROM ISSUE #14 (27 OCT 2000 - 02 NOV 2000) | TABLE OF CONTENTS
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Even before it began banking services, Kumari Bank Ltd has been mired in controversy, apparently due to a boardroom dispute that has now reached the courts. The court has upheld the founding-chairman of the bank, Noor Pratap Rana, as the rightful head of the board of directors, as opposed to the new chairman GD Shrestha, promoter of Hotel Radisson, who was appointed some weeks ago. The court also declared illegal the decisions taken by the new board of directors. The bank plans to begin operations in December.