Share purchase agreement of Tiger Palace Resort canceled

Bhairahawa: The district court of Rupendehi has annulled the agreement of purchase and sale of shares of Tiger Palace Resort. The order states that Tiger One Pvt. And Silver Heritage Investment Pvt. Will be fined Rs. 3,000 each for contempt of court.

A bench of Justice Lila Raj Adhikari passed the order on Monday while hearing a contempt of court petition filed by Sthaneshwar Ghimire, president of Lumbini Nalkup Consumers Association. Earlier, the court had ordered not to buy or sell the shares of the resort until the issue is decided. – The deal for the sale also went awry.

According to the documents submitted by the petitioner in the court, on August 3, 2021, an agreement was reached between Tiger to Private Limited and Bhusal & Sons Real Estate Pvt. Ltd. to buy and sell shares worth Rs. 117 million through Prime Commercial Bank.Three years ago, Ghimire built the resort at Tikuligarh-9 ‘D’ and now at Tilottama-13 during the construction of the resort. A writ petition was filed in the court alleging that the restaurant, swimming pool, various buildings and the structure of the pavilion were being used for the purpose. In the writ filed seeking protection of government property by demolishing the structure, the district court on July 7, 2008 granted the disputed land and other lands.It was ordered to keep the shares of other jugs and companies in the status quo without transferring them. Which was also presided over by the Tulsipur Butwal Bench of the High Court.

‘