Three including founding chair of Karnali bank in judicial custody

Nepalgunj, Aug 7: The Tulsipur Nepalgunj bench of the High Court has remanded three people including the founding chairman Karnali Bikas Bank scam case into judicial custody.

The bench issued an order to remand the founding chairpersopn of the bank, Rajendra Bir Raya, former chair Pashupati Dayal Mishra, and the head of the bank’s finance department, Bed Prakash Singh Thakuri, to be sent to pre-trial detention.

The Court's bench of Justices Chandra Bahadur Saru and Punam Singh Chand handed down the order on Wednesday after hearing the money laundering case against four defendants, including the former chairs of the bank.

A total of 109 people have been named as defendants in the Rs 3.2 billion embezzlement case of the bank, with headquarters in Nepalgunj. 

The case was filed after Nepal Police CIB recommended that a case be filed against 109 people, including the bank's founding Raya, claiming a compensation of Rs 3.2 billion rupees. According to the court's information officer Bal Bahadur Bista, among the four defendants, a claim for damages and fines worth Rs 2.63 billion has been made against Raya.

Likewise, a claim for damages and fines worth Rs 108.9 million has been made against Bhuwan Basnet, a former employee of the Nepal Rastra Bank. Basnet was however ordered to be released on a bail of Rs. 200,000. (RSS)