By TRN Online, Kathmandu, Aug. 3: The Election Commission has invalidated the registration of 41 political parties which have not submitted the audit report for three consecutive years.

Issuing a press statement on Tuesday, Raj Kumar Shrestha, spokesperson at the Commission, informed that the meeting of officials held on Tuesday itself decided to annul the registration of 41 parties failing to furnish their annual audit report within the stipulated deadline for three years in a row.

The EC said that the nullification of 41 parties would be effective from today and the parties would not be able to use their party name, flag, and symbol for a year.

Following the Commission's decision, of the 136 parties recognised by the EC, registration of only 95 parties has been retained.

Moreover, the EC has also slammed Rs. 50,000 fine on 41 political parties and have said that the members of the parties would not be permitted to form a new party or enter into any existing party without releasing the fined amount.

According to the Act relating to Political Parties, 2017, all the political parties registered in the EC should submit their audit report within six months after the end of every Fiscal Year.