Smart Cell has reached an agreement with recharge card traders to pay the latter their investment money. The telco will now lead the initiative to reimburse the traders’ money spent on buying its recharge cards.
Earlier, traders staged protests and even locked the gate to the operator’s office in Kkumaripati, Lalitpur. The telco has been accused of luring them of profits while ignoring its judicial fate. Do note that Smart Cell has already lost its battle to keep its operating license. Regulator Nepal Telecommunication Authority (NTA) has taken over its asset and is currently evaluating its property valuation for auction.
Protesters have demanded that the telco pay back their investment worth around 52 crores spent on buying Smart Cell’s SIM and recharge cards. So, as per the negotiation between Smart’s director and management with the recharge card distributors, the out-of-license company will assess the data and initiate the payment. The meeting between the two parties took place at the telco’s main office in Lalitpur. Both have reached a 2-point agreement.
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Smart Cell to pay recharge card traders
As part of the agreement, recharge and SIM card distributors will hand over the detail of their spending to the telco which in turn will take cognizance of it and start to refund.
Additionally, it’s also decided that the management of the amount for the recharge card and SIM card shall be discussed in coordination with the regulator. Both have agreed to discuss the process of refunds on Jestha 19.
The agreement was signed by Chairman Sarbesh Joshi, COO Sajinraj Bhandari, Finance Head Atmaram Thapa, Market Managing Officer Gomesh Pathak, and Tarka Bhatt and lawyer Viraj Dhwaj Thapa on behalf of Smart.
Bimal K.C., Padam Bahadur Shrestha, Ravin Patel, Pawan Sapkota, Binda Lamsal, Govinda Ghimire, and others represented the recharge card distributors in the meeting.
Protesters have been demonstrating for weeks stating that they invested their personal money expecting profits. But as the telco lost its license, the prospects plunged. In fact, Smart Cell’s network was down in many parts of the country weeks before the verdict on its license. The telco seems to have expected its impending fate.
The latest agreement has, traders say, given them hope of getting their money back.
