Kathmandu. A case has been filed against 79 persons, including Deepak Bhatta, for their alleged involvement in manipulating the stock market.

The District Government Attorney Office, Kathmandu has filed a case against 79 people at the Kathmandu District Court claiming a claim of Rs 1.14 billion 8 million 69 thousand 936 under the Securities Act, 2063.

Ashish Shrestha, Pravina Dahal, Siddhant Jhunjhunwala, Latika Golyan, Badri Sigdel, Mrigendra Nath Rimal, Sujal Malla, Rishiraj Mor, Mridula Sariya, Rohit Karan Vaidya, Bidur Puri, Pavitra Lal Chuke, Binod Narsingh Shrestha, Ishwar Lal Shrestha, Sunita Maharjan, Pratapram Shrestha, Nicholas Pandey, Balram Khatri, Manish Timilsina, Neha Agarwal, Asis Singh, Ram Kumar Yadav, Devendra Dhital, Kritika Agarwal, Dinesh Sariya. Niru Dahal, Nitesh Malpani, Ganesh Raj Pant, Bhanubhakta Pokharel, Naresh Kumar Roka, Dipesh Kumar Shrestha, Shulabh Agrawal, Sachin Acharya, Saurabh Dugar, Rajiv Prasad Pyakurel, Pramila K.C., Digambar Jha, Ashish Dhakal, Kapil Kumar Dahal, Laxman Gyawali, Bibek Kumar Shah, Manoj Kumar Lal Karna, Rajan Prasad Adhikari, Binu Ghimire, Narayan Kumar Adhikari, Utsab Pradhananga, Sumer Shumsher JB Rana, Subash Poudel. Salini Sanghai, Pratik Joshi, Udip Shrestha, Jaya Prakash Jaiswal, Uday Narayan Bhattarai, Trishila ‘Jhunjhunwala’, Pramod Prasad Bhattarai, Jyoti Agrawal, Navaraj Mudbhari, Chirayu Bhandari, Jyoti Prakash Pandey, Sami Kharel, Shekhar Golchha, Shahil Agrawal, Rohit Gupta, Amit Mor, Rajiv Mor, Subhechha Kharel, Subash Kumar Jhunjhunwala, Upasana Paudel, Manish Kumar, Deepak Kumar Shrestha, Shishir Gaire, Sitaram Wagle, Ritesh Pradhan, Akanksha Gupta. The case has been filed against Subhash Bahadur Shrestha, Sandeep Chachan Agrawal, Deepak Bhatta, Shubhi Agrawal and Raj Bahadur Shah.

It has been found that they have colluded with each other in the secondary market of securities without fulfilling the responsibilities of the organization to which they are affiliated, causing loss to the organization itself and benefiting only a few individuals, without making any difference in the actual ownership. Most of them are absconding.

They have been seen fluctuating the share price of the secondary market, taking advantage of certain people through fraudulent transactions and causing losses to the general public.

They have been found guilty of the offence under Section 94 (a), Section 95, Section 96 (a) and Section 98 of the Securities Act, 2063.

They were found to have manipulated the share prices of Nepal Reinsurance Company, NLG Insurance and Guardian Micro Life.

They were also investigated by the Central Investigation Bureau (CIB) of Nepal Police after the investigation by the Securities Board.