KATHMANDU: The Special Court has extended the judicial custody of CPN-UML Vice Chair and former Finance Minister Bishnu Paudel by six days as part of an ongoing money laundering investigation.
The extension marks the third remand granted by the court since Paudel’s arrest. The order was issued by a bench comprising judges Hemant Rawal, Dilliratna Shrestha, and Umesh Koirala, according to the court’s administration.
Paudel was arrested in connection with an investigation into the purchase of a 20 percent stake in Shriram Tobacco Pvt. Ltd. by Himalayan Asset Management Pvt. Ltd.
Government prosecutors have submitted documents to the Special Court claiming that Infinity Holdings owns 100 percent of the shares in Himalayan Asset Management.
The Department of Money Laundering Investigation had previously referred to Himalayan Asset Management while filing a money laundering case against businessman Deepak Bhatta, who is currently in custody. The department alleged that although the company had invested in various businesses, its actual beneficial ownership appeared to lie elsewhere, prompting a broader investigation.
The government maintains that Paudel’s arrest is part of that ongoing investigation.
Paudel’s legal team, however, has argued that the available evidence does not justify his arrest and has requested his release on a personal recognizance bond.
The defense has also challenged the government’s reliance on the statement of Chunna Prasad Sharma Paudel, Paudel’s electoral rival in Rupandehi Constituency No. 2 during the March 5 election, arguing that testimony from a political opponent should not be treated as sufficient grounds for detention.
Senior advocate Ramesh Badal also argued that statements made by political competitors should not be considered reliable evidence for ordering an arrest.
The investigation into the case is ongoing.
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