KATHMANDU: The Kathmandu District Court has ordered the release of Rastriya Swatantra Party Chair Rabi Lamichhane on bail of Rs 6 million in connection with the Swarnalakshmi Savings and Credit Cooperative fraud case.
The decision was made by Judge Madhav Prasad Adhikari during a single bench hearing.
Meanwhile, the Kathmandu District Court has concluded that Rabi Lamichhane, chair of the Rastriya Swatantra Party, cannot be deemed innocent in the fraud case involving the Swarnalakshmi Savings and Credit Cooperative located in Kalimati.
Judge Madhav Prasad Adhikari, commenting that there is no basis to consider Rabi Lamichhane innocent, has ordered his release on bail with a deposit of Rs 60 million during the remand period.
Lamichhane was previously arrested on October 18 in the Suryadarshan Cooperative fraud case in Pokhara and was released after 84 days upon depositing Rs 6.5 million as bail. However, he later faced charges related to embezzlement in the Swarnalakshmi Cooperative case, where he and others are accused of misappropriating Rs 1.19 billion from 690 depositors.
Lamichhane appeared in court on Sunday regarding the Swarnalakshmi case and was subsequently detained until today’s decision to release him on bail.
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