Two accused on Swarnalaxmi Cooperative case granted bail

By A Staff Reporter,Kathmandu, Jan. 9: Two persons arrested on charges of fraud related to Swarnalaxmi Cooperative of Teku, Kathmandu, have been released on bail.

Kamal Lama, a member of the cooperative management committee, and Sunita Newa, an audit supervision member, were released after submitting bail amounts as per the charges filed against them on Wednesday.

The bench of Judge Padam Ram Pandey of the Kathmandu District Court has ordered both individuals to provide bail to secure their release.

As per the order of the court, Newa and Lama were released by depositing the bail amount of Rs. 400,000 and Rs. 300,000, respectively. 

The two were arrested by the Kathmandu District Police Office on November 5. 

Meanwhile, a detention hearing is still pending for 37 other defendants, including Rabi Lamichhane, President of the Rastriya Swatantra Party, in the same case.

As soon as the detention hearing order of the Kaski District Court arrives, the Kathmandu Police plans to present Lamichhane and the others accused to Kathmandu District Court.   

The fraud case involving Swarnalaxmi Cooperative amounts to over Rs. 2.41 billion. Lamichhane alone has been accused of financial misconduct involving Rs. 50.8 million.