KATHMANDU: Home Minister Sudan Gurung has issued a clarification regarding the controversy surrounding his alleged share investments, dismissing claims that he concealed investments worth Rs 2.5 million as baseless.
Gurung stated that the issue stems from classification rather than concealment, amid recent allegations that he had failed to disclose certain share holdings.
He said he has already openly declared investments exceeding Rs 20 million in shares traded in the secondary market in his asset disclosure. Investments made in Star Micro Insurance and Liberty Micro Insurance were also included within the same category, he clarified.
The Home Minister argued that investments made prior to assuming office were being unnecessarily politicized. “Investing in shares is not a crime, and all transactions were conducted through banking channels,” he said.
Gurung further stated that the funds used for investment were arranged through loans, supported by a written agreement dated August 15, 2023, and corresponding bank records.
Responding to allegations of a partnership with controversial individual Deepak Bhatta, Gurung said that a company can have hundreds or thousands of shareholders, and purchasing shares does not equate to a business partnership.
“If that logic is applied, then all investors in the same company would have to be deemed complicit,” he said.
Addressing concerns over a potential conflict of interest, Gurung clarified that the investigating authority is not the Ministry of Home Affairs but the Department of Money Laundering Investigation under the Ministry of Finance, and that due process is underway.
He also noted that investment decisions inherently carry risk, and it would be inappropriate to judge past decisions based on subsequent developments.
Gurung said the delay in his response was due to the legal sensitivity of the matter. He reaffirmed his commitment to abide by his party’s decisions and expressed readiness to cooperate with any investigation.
“Allegations and truth are not the same; conclusions must be based on evidence,” he said.
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