KATHMANDU: Former Deputy Inspector General (DIG) Chhabilal Joshi, accused of embezzling over Rs 1 billion from the Kalimati-based Swarnalakshmi Cooperative, has been granted release on a bail of Rs 5 million.
The decision came from the bench of Kathmandu District Court Judge Thakur Prasad Kharel.
The case against Joshi, filed by the District Police Range, Kathmandu, through the District Public Prosecutor’s Office, initially demanded a recovery of Rs 57.896 million. Following judicial proceedings, the court settled on the Rs 5 million bail.
Joshi, taken into custody at the District Police Range in Bhadrakali, was handed over to the police on Sunday after a detention hearing failed to conclude.
The court resumed proceedings on Monday, culminating in the decision to release him on bail. This ruling mirrored the relief Joshi received in Kaski in connection with another cooperative fraud case.
Joshi’s legal team featured prominent figures, including senior advocates Shambhu Thapa, Satish Krishna Kharel, Apoorva Khatiwada, and Rochak Regmi.
They argued in his defense against a team of five government lawyers and senior advocates Dr Surendra Bhandari and Dinesh Tripathi, who represented the prosecution.
Joshi’s involvement in cooperative fraud is not limited to the Swarnalakshmi Cooperative case. He was previously implicated in the Pokhara-based Suryadarshan Cooperative savings fraud. In that case, Kaski District Court Judge Nitij Rai ordered his release on bail of Rs 8.8 million.
Following his release in Kaski, Joshi presented himself in Kathmandu to face charges in the Swarnalakshmi case.
Adding to the complexity of Joshi’s legal battles are his business partnerships. He is associated with Gorkha Media Network alongside Rastriya Swatantra Party (RSP) Chair Ravi Lamichhane and Gitendra Babu Rai (GB). Both Lamichhane and Joshi have faced legal challenges over their involvement in cooperative fraud.
Lamichhane was earlier released on bail of Rs 6.5 million by the Kaski District Court concerning the Suryadarshan Cooperative case. Similarly, in Kathmandu, he was released on bail of Rs 6 million for the Swarnalakshmi Cooperative case.
The legal troubles for Joshi and Lamichhane are far from over.
On Sunday, a fresh case was registered against both individuals in the Rupandehi District Court. They have been named as defendants in charges of cooperative fraud and organized crime. The case against Lamichhane alone demands a fine exceeding Rs 40 million.
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