SC orders release of NIMB CEO Pandey from police custody
▸ Part of: Police Detain 69 in Kathmandu Valley Consultancy Fraud Crackdown; Other Arrests Made
The Supreme Court ordered the release of Nepal Investment Mega Bank CEO Jyoti Prakash Pandey, who was arrested on charges of fraud and criminal breach of trust. A division bench issued a writ of habeas corpus, allowing Pandey's release on personal recognizance with conditions, including prior court permission for international travel and appearance when required for criminal investigation. The arrest stemmed from allegations of illegally auctioning Smart Telecom's assets to recover loans.
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