KATHMANDU: The Supreme Court has ordered release of fraud-accused Uma Shankar Raybhar on bail of mere Rs 25,000.
A division bench of Supreme Court Justice Bishwambhar Prasad Shrestha and Sapana Pradhan Malla ordered to release Raybhar on Rs 25,000 bail on Friday.
Also, the Supreme Court quashed the order of the Patan High Court seeking bail of Rs 7.5 million. He was jailed on March 3, last year after he failed to submit the demanded bail amount.
Saroj Kumar Mishra of Sarlahi had started a company in his name. Mishra had misappropriated around Rs 1.4 billion by opening a company by misusing his signature, fingerprints, and citizenship to get his citizenship in the temptation to get a job. A case was then filed in the Patan High Court against 17 people, including Mishra. Among them, Raybhar was accused of defrauding Rs 280 million.
The apex court has ruled that Mishra was involved in taking all the profits by operating the institution including the accounts of the institution and as he was the real trader, he was directly involved in the loss of revenue.
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