The Supreme Court on Sunday decided to hold a final hearing on a petition seeking a stay order against the government’s decision to appoint Maha Prasad Adhikari as the chief executive officer (CEO) of Investment Board Nepal (IBN).

The ruling means Adhikari can continue working as the CEO for now.

Outgoing CEO of IBN Radhesh Pant had filed a writ last July seeking a stay order against the government’s decision to appoint Adhikari as the CEO arguing that he did not possess the academic qualification required for the post.

The writ stated that Adhikari did not have a Master’s degree in economics, management, engineering, project analysis or corporate law as required by the Investment Board Act 2011.

Justices Hari Krishna Karki and Ishwor Prasad Khatiwada refused to entertain a plea for an interim order and decided to submit the case for a final hearing, according to the website of the Supreme Court.

Pant had been ranked second among the three candidates shortlisted for the CEO’s position. He has argued in the writ that in the event of the first candidate’s being disqualified, the position should be automatically offered to him.

On June 23, the government appointed Adhikari, a former deputy governor of Nepal Rastra Bank, as the new CEO of IBN. Adhikari, along with outgoing IBN CEO Pant and Saroj Koirala, were in the race for the top IBN post.

The government had formed a three-member panel headed by Finance Minister Bishnu Poudel on April 21 to select a new CEO for IBN. The committee had shortlisted four candidates, but the names of only three hopefuls—Adhikari, Pant and Koirala—were sent to the Cabinet.