Nepal: shareholders eagerly await Padma payments

Nepal: shareholders eagerly await Padma payments
Published: 24 March 2014

Tagged Under: Padma cement Nepal 

Shareholders in Padma Cement, which is currently in the process of being liquidated, have expressed concern following the news that the liquidator's office will pay out dues of lenders first.

The DSE managing director, Dr Swapan Kumar Bala, said the liquidators will first have to pay any debts owed to lenders. "As owners of the company, the shareholders will get something after paying out the dues of lenders," Mr Bala said.

Barrister M Moksadul Islam, assigned by the court to complete the process, said the company had sold out the greater parts of its assets before the liquidation process started. He added that they have not yet found any third party who has demanded dues from the company and therefore the money of the assets will be disbursed duly in accordance with the court's decision.