Praveen Pandak has been appointed as the Managing Director of CDS and Clearing Limited (CDSC), a subsidiary of the Nepal Stock Exchange Ltd. (NEPSE).

The appointment was made during a board meeting of CDSC held on December 28, informed the company's Information Officer, Suresh Neupane. According to him, Pandak, who also serves as a director of the company, has been appointed as Managing Director and entrusted with the responsibilities of Chief Executive Officer (CEO) for the time being.

The post of CEO had been vacant for the past three months. Managing Director Pandak will continue to hold the responsibility until a permanent CEO is appointed.

CDSC, established in 2010 as a wholly owned subsidiary of the Nepal Stock Exchange Ltd. (NEPSE), serves as the sole depository in Nepal. It provides centralized depository, clearing, and settlement services for securities in dematerialized form, facilitating efficient and secure securities management for investors