Kathmandu. Kathmandu District Court has ordered the release of shareholder Dipendra Agrawal on bail.
The Central Investigation Bureau (CIB) of Nepal Police had arrested him on December 19 on the charge of criminal offence under the Securities Act, 2063 BS from Chundevi in Maharajgunj, Kathmandu.
A few days after Agrawal’s arrest, the family had filed a writ of habeas corpus. Agrawal’s side had demanded that he be allowed to fight the case outside custody.
The court has ordered Agrawal to be released on bail, the CIB said.
During the preliminary investigation, the Securities Board of Nepal (SEBON) found that Agrawal had earned a profit of Rs 49,19,865 in violation of the law and had used other TMS to conduct transactions between his relatives and related entities without changing his real ownership.
The board had sent the CIB to the CIB for further investigation after it was found that Agrawal had purchased the shares of Joshi Hydropower Development Company and sold the shares at a high price by publishing misleading information as per Section 97 (C) of the Securities Act, 2063.
Agrawal was found guilty of inflating the share price of the Corporate Development Bank under Section 94 (a) and (b) and Section 95 of the Act ।
प्रतिक्रिया दिनुहोस्