Businessman Gyanendra Has Shares In 17 Companies

For the record: Gyanendra Shah is not only the biggest landlord of Nepal but also a businessman with shares in as many as 17 companies. Mr. Shah also happens to be the king of Nepal and if everything goes smoothly Nepalis will be voting to decide his royal fate in the next year or so.

KATHMANDU, Aug 27 – The government has informed Parliamentary Natural Resource Committee (NRC) that the King and his family members have shares in 17 industrial and business enterprises in the country. According to the report provided by the Ministry of Industry, Commerce and Supplies to the Committee, the King and royal family members have majority shares in Soaltee Hotel, Soaltee Enterprises, Nebico Pvt. Ltd., Himalayan Goodrich (formerly Himalayan Tea Garden),Surya Nepal (Formerly Surya Tobacco), Hotel Del’ Annapurna, Himal International Energy and Himal International Power Corp.

Similarly, the King and the royal family members hold majority shares in Laxmi Rosin Turpentine Pvt. Ltd., Sipradi Trading, Gorkha Travels and Bhotekoshi Power Company. Laxmi Kattha Industries, which is in the possession of Dinu Pratap Pandey, Yagya Lal Kakshyapati and Laxmi Prasad Kalika at present, was transferred to Jagat Gauchan, Sarita Gauchan and Indra Sherchan by Dhirendra Shah and Rabi Bikram Shah on April 23, 2001.

Laxmi Rosin Turpentine Pvt. Ltd., was a joint venture of Dhirendra Shah, Mitra Bahadur Gurung, Man Kumari Gurung and Bharat Gurung and is now in the possession of Shahanshah International (represented by Dhirendra’s daughter Sitashma) and Alka Singh.

In Surya Enterprises, royal relative Prabhakar Shumsher Rana and his family hold the majority shares.

According to the report, Dhirendra’s daughters are the largest individual shareholders in Soaltee Hotel after Surya Enterprises. King Gyanendra’s 8497 out of 8507 shares in Soaltee Enterprises have been transferred to princess Prerana.

In Nebico, shares of King Gyanendra, late princesses Shanti and Sharada and Dhirendra have been transferred to Prerana, Sobha, Pooja, Sitashma, Dilasha, their relatives and others.

Personal shares of royal family members in Himalayan Goodrich have been transferred to six companies and late Dhirendra Shah. In Hotel Annapurna, Helen Shah appears to be the largest shareholder with 314980 out of 600720 shares. Prerana and Gorakh Shumsher Rana, late King Birendra’s son-in-law, are third and fourth largest shareholders.

All the shares of Himal Energy are held by Surya Enterprises, a company owned by Prabhakar Shumsher Rana and his family members. Rana is largest shareholder in Himal International Power Corp. Himal Intl’ Power Corp., Himal Intl Energy, RDC of Nepal and International Finance Corporation are shareholders in Bhote Koshi Power Company.

The Committee members asked the Land Reforms and management Ministry to provide details on the land occupied by the industries and business companies within seven days. (source)

Published by UWB

Pioneering blog from Nepal...since 2004.

105 thoughts on “Businessman Gyanendra Has Shares In 17 Companies

  1. Where is the news about FLOOD related to INDIAN DAMN. The constructed INDIAN DAMN is totally illegal according to international law and our REPORTERS and SPA are silent about it and more concern with abolishing king and the army. What khichadi is cooking behind it??

  2. India wants our water and don’t give shit about anything else.

    Hey Old Harke what your probelm with Blogdai.
    Sound like spoiled chora.


  3. To comment on B
    How come you are sure about Gachhadar wealth? Are you telling me you know his bank balance. You never feel the pain unless you wear somebody shoes and be sure on what your comments are.

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