King Gyanendra's daughter to lose shares worth Rs 16 crore

Kathmandu, Feb 26 (UNI) Princess Prerana, the only daughter of King Gyanendra, is set to lose ownership of thousands of units of shares with market value worth rS 16 crore, Kantipur reports said today.

As the office of Nepal Trust (NT) formed by the government to document the property owned by the family of late King Birendra has initiated a move to get the shares ownership transferred to its name.

"Princess Prerana got the ownership of 47,700 units of shares, including 40,950 units of shares of Nabil Bank alone, after the death of Crown Prince Dipendra and his younger brother Nirajan in 2001", the kantipur quoted an official as saying.

The current market price of the 47,700 units of Nabil Bank shares alone is approximately Rs 16 crore, it is said.

According to an official, NT recently decided to direct Nepal Rastra Bank via the finance ministry to get the ownership Nabil Bank shares transferred in the name of Princess Prerana.

The Trust which is documenting the property owned by the family of slain King Birendra to nationalise the property, made the move after it found that the shares were previously owned by Crown Prince Dipendra and his brother Nirajan before they were killed in the Royal Palace massacre in June, 2001.

UNI XC NC KN1401