KATHMANDU: The Kathmandu District Court has granted bail to Rastriya Swatantra Party (RSP) Chair Rabi Lamichhane in connection with the Kalimati-based Swarnalakshmi Cooperative Society savings fraud case.
However, the court has noted that Lamichhane cannot yet be deemed innocent in the ongoing investigation.
The single bench of Judge Madhav Prasad Adhikari ordered Lamichhane’s release on Wednesday after setting bail at Rs 6 million.
The court’s decision referenced Sections 68 and 72 of the Criminal Procedure Code, 2017, stating that while Lamichhane is not guilty at this stage, the case requires further proceedings.
The allegations stem from an investigation into the Swarnalakshmi savings fraud case, where Lamichhane and other defendants are accused of embezzling Rs 1.193 billion from 690 savers.
The court decision comes shortly after Lamichhane was released on bail last week in a separate fraud case involving the Pokhara-based Suryadarshan Cooperative Society.
He had spent 84 days in detention before providing a bail amount of Rs 6.5 million in that case.
In Wednesday’s order, the court cited several findings that suggest Lamichhane’s involvement in financial irregularities.
Judge Adhikari’s decision highlighted that Lamichhane, while serving as the managing director of Gorkha Network Media Pvt. Ltd., authorized significant financial transactions tied to the cooperative.
The court noted that Lamichhane’s signature appeared on a Global IME Bank account opened before he became a shareholder in Gorkha Network Media Pvt. Ltd.
Investigations revealed that funds from the Swarnalakshmi Cooperative were transferred to this account, despite the media company not being a member of the cooperative.
Additionally, loans amounting to Rs 9.346 million were taken under Lamichhane’s and another defendant’s names for vehicle purchases.
Further scrutiny showed that Rs 90.16 million was paid to the Swarnalakshmi Cooperative through a check signed by Lamichhane.
Moreover, the court found evidence of disbursements to various individuals from the Gorkha Network Media Pvt. Ltd. account, also bearing his signature.
While allowing Lamichhane to remain outside Kathmandu during the trial period, the court underscored the need for continued investigation into his financial dealings.
Lamichhane, expressing relief over his release, stated that he would comply with the legal process. However, the court’s findings indicate that the case is far from resolved, with further proceedings expected to determine the outcome of the charges against him.
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