Supreme Court orders NIMB CEO Pandey's release, bars foreign travel pending probe
Summary
Nepal Investment Mega Bank CEO Jyoti Prakash Pandey has been released on personal recognisance by the Supreme Court but barred from traveling abroad during an ongoing probe into alleged fraudulent auction activities.
Key Points
- The Supreme Court ordered the release of Nepal Investment Mega Bank CEO Jyoti Prakash Pandey on personal recognisance.
- Pandey was arrested by the Central Investigation Bureau for alleged fraudulent auction of Smart Telecom assets.
- The court barred Pandey from traveling abroad without prior approval pending investigation.
- Banking associations urged authorities against detaining the CEO, citing loan recovery as a core protected function.
