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Court orders to freeze Turkish Airlines’ bank account

Gorkha Post



KATHMANDU — The Kathmandu District Court has ordered Standard Chartered Bank to freeze Turkish Airlines Inc’s accounts  at the bank.

The court has ordered the bank to freeze Rs 23,815,025 deposited in Turkish Airlines’ two accounts 01 257467502 and  01257467554 with the bank until the affected party, Zenith Travels Pvt Ltd, approaches the court seeking ‘reconsideration’ on the matter.

The court ordered to freeze the Turkish Airlines’ accounts with the Standard Chartered Bank after Zenith Travels Pvt Ltd filed a case against the airlines seeking compensation for the investment it had made to become the airlines’ general sales agent (GSA) in Nepal.

According to Zenith Travels Pvt Ltd, the company invested more than two crore rupees for setting up infrastructure in the hope that it would be offered the airlines’ GSA but later the airlines refused the same without paying back the money.

According to Jay Devan, managing director of Zenith Travels Pvt Ltd, the company has filed a lawsuit against the airlines after it ignored repeated requests to return the investment made by the former.

Devan said Turkish Airlines held his bank guarantee for a long time without entering any agreement.

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NPC urges government to seek clarification from Chinese firm

Gorkha Post



KATHMANDU — The National Planning Commission (NPC) has urged the government to seek clarification from China Three Gorges International Corporation (CTGC) over the construction of the Paschim (West) Seti Hydro Power Project.

The meeting of the NPC that began on Sunday, made the decision of seeking clarification from the company with a time period of 90 days regarding the construction of 750 MW hydropower project.

The hydropower project, which is expected to be completed in an investment of 1.60 billion rupees, will have 65 percent investments from the CTGC, 25 percent from the National Electricity Authority (NEA) and the 10 percent investments from the locals as share, as per the plans made before.

CTGC can sell off its 14 percent of its total 65 percent share to the Nepali investors. But the CTGC has been showing dissatisfaction over the rate of purchasing the electricity per unit (PPA). Previously it had asked the NEA to review the rate but got a negative response.

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“We have suggested the government to interrogate the company whether it will be able to complete the project or not. What has been the problem to expedite the construction along with the terms and conditions which the company wants to put forward,” NPC Vice President Swarnim Wagle said.

The CGTC, which has been delaying the construction over its dissatisfaction over the PPA, has been threatening to walk out of the construction.

The project, which covers the area of Doti, Dadeldhura, Baitadi, and Bajhang districts of Far Western Development Region of Nepal, can produce 3.33 billion units of electricity on yearly basis, accoridng to the probability study of the project.

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