KATHMANDU: The Special Court on Friday released CPN-UML Vice Chair and former Finance Minister Bishnu Paudel on regular bail in a money laundering case, ruling that the available evidence was insufficient to justify keeping him in judicial custody during trial.
The Department of Money Laundering Investigation had filed a case against Paudel on Thursday, seeking recovery of Rs 209 million and accusing him of acting as an accomplice in a money laundering offence.
In its order, the Special Court cited four key reasons for granting Paudel regular bail:
Consistent denial of the allegations
The court noted that Paudel consistently denied the allegations during both the investigation by the Department of Money Laundering Investigation and before the court, maintaining that he had not facilitated any illegal transactions.
No evidence to support claims of facilitation
Although directors of Shriram Towa Industry Pvt Ltd claimed that Paudel had facilitated a share transaction, the court said there was no supporting evidence. It also noted that the prosecution had not made similar allegations against the companies or individuals who allegedly benefited from the transaction.
Main accused did not implicate Paudel
The court observed that Deepak Bhatta, the principal accused in the money laundering case, did not state during either the investigation or court proceedings that Paudel had played any role in facilitating the disputed share transaction.
No proof of financial benefit or direct link
According to the court, there was no immediate evidence that Paudel had received any financial benefit from Bhatt’s transactions or maintained a direct financial relationship with him. The court also noted that Paudel was not serving as finance minister at the time the disputed shares were transferred.
The court further pointed out that although around Rs 634,545 in Paudel’s Everest Bank account had been frozen during the investigation, the amount alone did not establish a direct connection with the alleged offence.
Based on these findings, the Special Court concluded that there were insufficient grounds to keep Paudel in custody and ordered that he remain on regular bail while the trial proceeds. The court clarified that the order is not a final verdict and that the case will be decided after a full hearing and examination of evidence.
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