KATHMANDU: Even though the Central Investigation Bureau (CIB) of Nepal Police arrested Arun Chaudhary, the younger brother of industrialist and lawmaker Binod Chaudhary, into custody, it has been learned that the ownership of Chandbagh School is in Binod’s name.

Arun presented the evidence asserting that the ownership of Chandbagh School is entirely in Binod’s name, hinting at potential legal repercussions for the Nepali Congress lawmaker and controversial billionaire with government land holdings.

Insiders claim that more revelations are imminent in the coming days.

Arun is implicated in a dispute over the ownership of a 10 ropani land connected to the Bansbari Leather Shoe Factory, with undisclosed details that have surfaced through Binod Chaudhary’s connections.

Sources reveal that in 2043 BS, Binod Chaudhary maneuvered to transfer the factory land into his possession.

On August 26, 1986, Binod Chaudhary purportedly acquired 10 ropani of land through a business partnership with Ajit Narayan Singh, the owner of Bansbari Leather Shoe Factory.

The company, supposedly set to produce one million shoes annually, held 2500 shares of Bansbari Leather Shoe Factory, excluding any share for Chaudhary’s brothers.

Reportedly, prior to the earthquake of 2015, Binod Choudhary secured a residence for himself, his wife, and son Nirvana.

During that period, the Bansbari Leather Shoe Factory, under the Champion Foot Wear Company banner, was touted to annually produce one million white shoes.

Binod proposed a shift to manufacturing black leather shoes while maintaining the production of white shoes (converse) specifically for students under the same company name, which was approved by the then board.

It is alleged that Chaudhary would gain ownership of 2500 shares in Bansbari leather shoe factory in exchange for the 10 ropani land.

During this period, Chaudhary’s brothers had no stake in the company, leaving the responsibilities to the elder brother.

As time passed, the shoe company closed down, making way for the construction of CG Residency.

Meanwhile, Binod’s brother Basanta Chaudhary had separated from the company.

The Chaudhary Group, led by Binod, eventually established the Chandbagh School at the same location after the 2015 earthquake.

Arun Chaudhary, Chairman of CG Holdings, was arrested on charges of unlawfully seizing 10 ropani of land within the premises of the Bansbari Leather Shoe Industry in Kathmandu on Thursday.

The Central Investigation Bureau (CIB) of Nepal Police executed the arrest at Chaudhary’s Lazimpat residence.

The investigation revolves around the alleged government land grabbing at Bansbari Leather Shoe Industry, with the CIB actively probing the case.

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