KATHMANDU: The Patan High Court has ordered Shankar Group Chair Shankar Lal Agrawal to be remanded in judicial custody pending trial in a banking offence case.
A joint bench of Justices Arjun Prasad Koirala and Kabi Prasad Neupane issued the order on Thursday.
Agrawal was arrested on Wednesday by a team from the Central Investigation Bureau (CIB) of Nepal Police in Kathmandu’s Dillibazar area in connection with a banking offence case currently under consideration at the Patan High Court.
The case, filed on the basis of a complaint by the Nepal Rastra Bank, involves alleged violations of the Banking Offence and Punishment Act, 2008. Agrawal had been absconding in the case, which also names Deepak Bhatta as a co-accused.
Earlier, on April 2 (Chaitra 20), the CIB had also arrested Agrawal in connection with a money laundering investigation being conducted by the Department of Money Laundering Investigation.
He was held at the Lalitpur District Police Office following that arrest but was released two days later on April 5.
Agrawal’s son, Sulabh Agrawal, remains in judicial custody.
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