Nepal Investment Mega Bank CEO Jyotiprakash Pandey Released on Bail
Summary
Nepal Investment Mega Bank CEO Jyotiprakash Pandey has been released on bail by the Kathmandu District Court after being accused of irregularities in the auction process of Smart Cell. The court ordered his release on an 80 lakh rupee bank guarantee, and he will face trial outside detention.
Key Points
- Kathmandu District Court ordered Nepal Investment Mega Bank CEO Jyotiprakash Pandey to be released on an 80 lakh rupee bail bond.
- Pandey was accused of irregularities in the auction process related to Smart Cell and the handling of its assets after license cancellation.
- The case centers on alleged attempts to fraudulently end government control over property that came under the ownership of the Government of Nepal.
- Pandey has now been released after submitting a bank guarantee and will face trial outside detention.
