KATHMANDU: Prithvi Bahadur Pandey, Chairman of the Board of Directors of Nepal Investment Mega Bank (NIMB), has been released on bail of Rs 4 million.
Pandey appeared before the Kathmandu District Court on Monday for a bail hearing. A case was filed against Pandey and 22 others on August 10 in connection with the mortgage auction of assets belonging to Smart Telecom.
Following the hearing, a bench led by Justice Nawaraj Dulal ordered Pandey’s release on Rs 4 million bail. He was released on Monday after depositing the amount ordered by the court.
Pandey faces charges related to organized crime and offenses involving banks and financial institutions.
Earlier, NIMB Chief Executive Officer Jyoti Prakash Pandey was released on bail of Rs 8 million in the same case.
Comment