KATHMANDU: Police have arrested Sarvesh Joshi on charges of fraud and criminal breach of trust related to assets of a telecom service provider.
Joshi, 45, a resident of Khursanitar in Kathmandu Metropolitan City-2, was taken into custody on Monday following an arrest warrant issued by the Kathmandu District Court.
According to the Nepal Telecommunications Authority, Smart Telecom Pvt Ltd had obtained a license on April 15, 2013, to operate basic telephone services. However, the company’s license was automatically revoked from April 16, 2023, under the Telecommunications Act 1997 after it failed to renew the permit as required.
Following the revocation, all assets, infrastructure, and networks of the company were taken under the authority’s control in accordance with the Telecommunications Service Provider Asset Management Regulation.
Police said Joshi has been charged with attempting to dishonestly misappropriate assets that had already come under government control. The case has been filed on allegations of fraud and criminal breach of trust.
Authorities stated that despite being given time to clear dues, the telecom operator failed to pay renewal fees, prompting the government to cancel its license. At the time, the company owed Rs 20.13 billion to the government, which, including a Rs 3 billion penalty, totaled Rs 23.13 billion. With interest, the outstanding amount has now reached nearly Rs 30 billion.
Earlier in 2019, the government had decided to revoke Smart Telecom’s license but later reversed the decision, allowing the company to clear its dues in five installments. The Cabinet had most recently extended the deadline by six months, but the dues remained unpaid, leading to the latest action.
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