KATHMANDU: The long-running dispute between the Government of Nepal and multinational telecommunications company Ncell has resurfaced once again, bringing renewed attention to the controversial ownership and share transaction issues that have strained relations between the two sides for years.

The conflict intensified after the government released the investigation report prepared by a committee led by Tankamani Sharma, which examined the Ncell share purchase and sale controversy. The report, originally submitted in 2023 (2080 BS), was made public this week, prompting a strongly worded response from Ncell.

In a statement issued on Thursday, Ncell said: “The government has made public the Sharma-led investigation report in violation of the law and contrary to court orders. We wish to make it clear that this action constitutes a breach of taxpayers’ right to confidentiality. Furthermore, the government’s decision has violated the constitutional and legal rights of the company’s shareholders, directors, and other stakeholders.”

The company warned that the government’s move could seriously undermine investor confidence, create major obstacles to foreign investment and business promotion, and ultimately cause long-term damage to the country’s economy. The Council of Ministers had decided on July 11, 2026 (26 Asar 2083 BS) to publish the investigation report related to the Ncell share transaction case.

However, Ncell argues that a writ petition seeking publication of the report in the public interest had already been dismissed by the High Court on July 16, 2026 (31 Asar 2083 BS), and that decision had become final. According to the company, the government’s subsequent publication of the report directly contradicts the court’s ruling.
Calling the move a serious violation of the constitutional and legal obligation to respect and implement court decisions, Ncell described the publication of a report that had been deemed confidential by the judiciary as a “historic and unfortunate event.”

The company further warned that the action could discourage not only existing domestic investment but also potential foreign investment, and may even prompt investors to withdraw from Nepal.

Dispute escalates just days after meeting with finance minister

The controversy comes only days after Finance Minister Dr. Swarnim Wagle met representatives of 20 major multinational companies, including Ncell and Axiata, at Singha Durbar on August 10, 2026 (25 Shrawan 2083 BS).

During the meeting, the finance minister reportedly described large private-sector taxpayers as development partners of the government and pledged to create a more favorable environment for investment and business.

Addressing multinational companies in particular, Dr. Wagle urged them to bring additional investment into Nepal and assured them that the government would protect investment, returns, and property rights.

But just two days later, the government released the confidential investigation report on the Ncell share transaction dispute, a move that appears to have deeply angered the company.

Ncell has also warned that the publication of the confidential report has caused irreparable damage to the company and that it may seek legal remedies against the government.